Prof Aluko I believe Dominic has fully addressed your Ziggy below. Sometimes when you write even I become ashamed on your behalf. In 1993, while working inMessage 1 of 1 , Jun 22, 2012View SourceProf AlukoI believe Dominic has fully addressed your Ziggy below. Sometimes when you write even I become ashamed on your behalf.In 1993, while working in Houston for my former employers I opened an account with then NationBank. I returned to Nigeria and still operated that account. Bank of America later bought them out. My account was transferred to bank of America.Even though I am resident in Nigeria I have not had any Patriot Act problems with my Bank of America account.The Patriot Act is more than 10 years old If you did not have a problem during the 9/11 hysteria then having a banking problem now is indicative of other underlining issues If the embassy is using its accounts for the purposes it was set up they will not have a ' Patriot Act' issue. And you know it. But your personal interest and ethnic trap loyalties will not allow you to speak the truth.I hardly waste my time on stuff like this. Why? Because in the US the system works. If the embassy has money laundering issues sooner or later someone will be in handcuffs. If not they will have the use of their bank accounts for normal embassy businessNo amount of spinning or ethnic caterwauling by you or anyone else will change the facts.Joe
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On 22 Jun 2012, at 01:04, Mobolaji ALUKO <alukome@...> wrote:
=Joe Attueyi and netizens of Nigeria:Lord have mercy upon us all! How are the TWOn references that Joe Attueyi has referred us INCONSISTENT with each other?http://www.nigeriaembassyusa.org/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=92&cntnt01origid=15&cntnt01detailtemplate=nigeriadet&cntnt01returnid=108http://www.nigeriaembassyusa.org/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=85&cntnt01origid=15&cntnt01detailtemplate=nigeriadet&cntnt01returnid=108How BIASED can one get that even an OPEN reading of two references are still being mis-interpreted in our very before?Please come with me:
1. The Nigerian Embassy in the US has stated IN BOTH write-ups that it has NO bank accounts in Wells Fargo and Bank of America. So how could those non-existent accounts have been closed down FOR ANY reason, least of which was for money laundering?2. Neither reference states that the US government ASKED the Nigerian Embassy to close down ANY account, and in fact denies such an order. The US government cannot ask even YOU or I to close down a PARTICULAR bank account for WHATEVER reason, not to talk of an Embassy. It has to be EITHER the bank itself - for whatever internal reason - or by some court order, for some particular reason.3. As a general character, all Embassy accounts are very HIGH-ACTIVITY accounts - MONEY-IN-MONEY-OUT accounts - because the greatest activities are to pay SALARIES for their workers, rent and mortgage for Embassy housing, and the welfare of traveling government officials. After all, they are not TRADING accounts. This is particularly so for AFRICAN Embassies, who sometimes have difficulties remitting FOREIGN EXCHANGE to their accounts for months on end, and then suddenly they get the foreign exchange, and then they remit HIGH AMOUNTS OF SUCH FOREIGN EXCHANGE all at once to pay for arrears of salaries, rent and general welfare. For the same reason, when those foreign exchange become available, they sometimes have creditors who INSIST on being paid CASH rather than cheque, etc., and hence large amounts of money eg $10,000, $20,000, $50,000 etc., have to be withdrawn. This situation should not be seen as being necessarily suspicious, if it is not done every month, for example.4. There is another reason when large amounts of money may have to be withdrawn: when LARGE delegations of foreign officials visit. For example, certain officials from Nigeria have estacode of $1000 per day, $600 per day etc,. [As Vice-Chancellor, my estacode is $600 per day for foreign trips, although I am yet to claim it for any ENTIRE trip that I have taken because I consider it rather high.] Typically, they are supposed to be paid their estacode AHEAD of such travel, either Naira equivalent (in which case they seek their own foreign exchange themselves) or in the foreign currency (if the agency has a funded domiciliary account.) But if the agency FOR WHATEVER REASON asks the Nigerian Embassy in the US to help DEFRAY the estacode of certain visiting officials, it is VERY EASY to see the Embassy WITHDRAW $50,400 to pay the estacode for a 7-day visit of (say) ten delegates, three of who have $1000 per day estacode and seven of who have $600 per day estacode. So the loud concerns about some withdrawal of $50,000 on one occasion is a little bit hyperbolic, and it is just calling a dog a bad name to hang it.5. On the issue of bank closures, the Embassy has informed us in one of the write-ups that it was one of SEVERAL Embassies - apparently many African Embassies - advised at the beginning of 2012 by their banks to close accounts ON ACCOUNT of it being UNPROFITABLE for them to continue to SERVICE them in the face of HEAVY COSTS incurred to monitor their activities following the PATRIOT ACT. I am almost certain that traditionally those accounts do not draw service fees, and at the same time are heavy-traffic accounts. It amounts to a BUSINESS decision on the part of the banks, but at the same time it is some kind of unpalatable and unacceptable ACCOUNT PROFILING - that these banks do not want to be bothered with so much heaving policing of LIKELY accounts like the Somali account. That does not mean that ANY particular account was used for MONEY LAUNDERING.6. Ladies and gentleman, I strongly believe that what has been happening with this Nigerian Embassy bank matter is nothing more than propagandist disinformation and misinformation and even blackmail by some elements in our Nigerian community with an axe to grind with the Embassy, the Ambassador, etc. stemming largely from the ongoing legal saga of their principal, and general disenchantment with Nigeria.......the usual suspects of vile and evil individuals in their various constellations. For example, now we SUDDENLY read about an M&T Bank Account - which their principal must have known and assisted the Nigerian Embassy in the past to transact business with - as being under suspicion, it is no longer Wells Fargo and Bank of America!Haba, come on........many of us were born at night, but certainly not last night.And there you have it.Bolaji Alukohttp://www.nigeriaembassyusa.org/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=92&cntnt01origid=15&cntnt01detailtemplate=nigeriadet&cntnt01returnid=108
19/06/2012: OUR ACCOUNTS ARE NOT FROZEN
The attention of the Embassy has been drawn to some recent publications in the Internet press indicating that the Accounts of the Embassy as well as the Consulates in Atlanta and New York, and also the Permanent Mission to the United Nations have all been frozen by Wells Fargo and Bank of America on alleged charges of money laundering. These allegations are malicious and are designed to malign the integrity of the leadership of the Nigerian missions in the U.S.
2. It is true that African Embassies have within the past one year been facing problems banking in the U.S. This arose as a result of the PATRIOT’S ACT by which stringent compliance regulations were imposed by the U.S. government to prevent possible money laundering that might be used to finance terrorist activities. The activities of Al-Shabab in Somalia make the issue of terrorism of particular concern to Africa.
3. The compliance regulations involve a large amount of paper work and staff time. Many banks thought that the amount of staff time and energy spent in fulfilling these strict compliance regulations is not justified by the profit they make in keeping the Embassies Accounts. This was why within the past 15 months, many African and Asian embassies were told to close their Accounts by their Bankers and look for new ones. The African Ambassadors Group both in Washington, DC and New York have held series of meetings with Government and banking authorities in America with a view to lessening the rigour of the PATRIOT’S ACT. The negotiation continues.
4. Initially, the Nigerian Embassies were not affected. But at the beginning of this year, we received notices from our banks giving us between three to four months to close our Accounts and look for new ones. The reasons cited were the PATRIOT’S ACT. Like most African Embassies, it was difficult to find banks willing to cope with the strict compliance regulations as imposed by the PATRIOT’S ACT. Those African Embassies, including that of Nigeria which eventually found other banks, could only do so through American banks which had branches in their countries. This is what the Nigerian Embassies did with the active support of our Central Bank. We now do business with a bank that has branches in Nigeria. The Central Bank pays our allocation to the bank and missions operate it from here.
5. It is therefore patently wrong and grossly mischievous to allege that our Embassies and Consulates in Washington, DC, New York and Atlanta had their Accounts frozen by Wells Fargo and Bank of America. None of the Nigerian Embassies and Consulates in the U.S. had had any dealing whatsoever with either of these banks. Accounts that did not exist could not have been frozen.
6. There has been no argument or disagreement not even a discussion of this issue between our government and that of our hosts. Members of the Nigerian public in the United States are hereby advised to disregard those publications. Our Embassies and Consulates are carrying out their normal functions and discharging their statutory obligations to their staff.
EMBASSY OF NIGERIA
June 19, 2012
24/05/2012: Money Laundering: US Vindicates Nigerian Embassy
The controversy generated by the fraud allegation that was recently made against the leadership of the Nigerian Embassy in Washington DC and the Permanent Mission to the United Nations in New York by an Online Journal (Not Leadership) may have come to an end just as the Department of States on Wednesday night absolved the Missions of any complicity.
One of the Spokespersons of the US Department of States who reacted to the report during a chat with LEADERSHIP, said that the United States government did not order any bank to close down the accounts of both the Nigerian Embassy and the Permanent Mission in New York.
The source who preferred anonymity also told our Correspondent that no allegation of fraudulent activities against the leaderships of both the Nigerian Missions had been brought to the knowledge of the government of her country.
She further said that the United States government has not received any information that the Ambassadors Adebowale Adefuye and Joy Ogwu-led administrations at both the Embassy in Washington DC and Permanent Mission in New York were involved in laundering money into the country on behalf of some State Governors and top government functionaries as reported by the Online Journal.
The United States official did not tell LEADERSHIP if the Permanent Mission in New York had ever operated or still operates bank accounts with Wells Fargo and Bank of America but, she confirmed that no bank account belonging to both Missions was closed down.
“I have just checked through all our records and there is no report that the Nigerian Embassy and the Mission in New York involved in frauds. It is not also in our records that any bank was ordered to close down their bank accounts. I cannot actually say if the Permanent Mission in New York did or still operates any form of accounts with Wells Fargo and Bank of America, but the Embassy in Washington had no accounts with the said banks” the official said.
It would be recalled that an Online Journal recently reported that the United States government had forced two of the country’s leading banks to close the accounts of the Nigerian Embassy in Washington DC and the Nigerian Mission in New York over alleged shady money transfer involving state governors and public officers.
The report further stated that the monies were allegedly wired into the Nigerian Embassy’s bank accounts with Wells Fargo and Bank of America by some state governors and other government functionaries with the arrangements that the Embassy would make the money available to them on arriving the US.
But in his reactions to the report, the Nigerian Ambassador to Nigeria to the United States, Professor Adebowale Adefuye, debunked the allegation that the Nigerian Embassy was using its bank accounts to launder money for some state governors and government officials, stressing that the Embassy did not operate any bank accounts with Wells Fargo and Bank of America as stated in the report which he called a “wicked bid” to undermine the leadership of the Embassy.
His words: “We have never operated any accounts with Wells Fargo and Bank of America. We have nothing to do with the laundering of money on behalf of state governors or other Nigerian public functionaries. The leadership of the Nigerian Embassy in the United States respected the financial policies of the host country and will never encourage fraudulent activities such as corruption and money laundering.”
Meanwhile, all efforts by our Correspondent to get the reactions of the Permanent Mission to the United Nations were not successful as top officials of the Mission did not respond to the electronic mails sent to them.
Source: Leadership Newspaper
Thursday 24/05/2012On Thu, Jun 21, 2012 at 7:13 PM, topcrest topcrest <topcrestt@...> wrote: