Tinubu’s Daughter Shocks Baffanyo with N10M Reward for Kano Rally – Viral Video Goes Crazy!

Tinubu's Daughter Shocks Baffanyo with N10M Reward for Kano Rally - Viral Video Goes Crazy!

Tinubu’s Daughter Shocks Baffanyo with N10M Reward for Kano Rally – Viral Video Goes Crazy!

A viral video has surfaced online, showing the daughter of former Lagos State Governor and National Leader of the All Progressives Congress (APC), Bola Ahmed Tinubu, surprising a supporter with a N10 million reward for his efforts at a recent rally in Kano.

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The video, which has been widely shared on social media, shows the supporter, identified as Baffa Babba, giving a “Ghana-Must-Go” bag by Tinubu’s daughter, who expresses her appreciation for his hard work and dedication.

Baffa is seen in the video overjoyed and grateful for the generous gift, which he says will give N9 million to the people while he keeps 1 million for himself. He is also seen expressing his continued support for Tinubu and the APC.

The video has generated a lot of reactions on social media, with many calling on the EFCC to investigate Tinubu’s daughter for breaking the Nigerian money laundering act. 

Let’s take a look at the Nigerian Money Laundering Act if Tinubu’s daughter truly broke it.

What is the Nigerian Money Laundering Act?

The Nigerian Money Laundering Act is a law that was enacted in Nigeria in 2004 to prevent and combat money laundering and the financing of terrorism in the country. The Act provides a framework for the detection, prevention, and prosecution of money laundering and the financing of terrorism.

The Act establishes the Financial Intelligence Unit (FIU) as the central national agency responsible for receiving, analyzing and disseminating financial intelligence related to money laundering and the financing of terrorism. The FIU is also responsible for coordinating the implementation of the Act with relevant government agencies and private sector entities.

The Act also requires financial institutions and designated non-financial businesses and professions (DNFBPs) to implement customer due diligence measures, including the identification and verification of customers, and to report suspicious transactions to the FIU.

The Act makes it a criminal offense to engage in money laundering or the financing of terrorism, and provides for severe penalties, including fines and imprisonment, for individuals and entities found guilty of such offenses.

The Act also provides for the forfeiture of proceeds of crime and property used in or intended for use in money laundering or the financing of terrorism, as well as the provision of mutual legal assistance in money laundering and terrorist financing investigations and proceedings.

The Act is regularly reviewed and updated to ensure compliance with international standards and to adapt to evolving money laundering and terrorist financing trends.

Now let’s talk about the cash limit.

What Is The Money Laundering Cash Limit?

The limit for carrying cash in Nigeria is dependent on the Central Bank of Nigeria (CBN) regulations, which are subject to change. As of my knowledge cutoff, the limit for carrying cash in Nigeria is N5 million (about $13,000) for both local and foreign currency. This means that individuals and entities are not allowed to carry more than N5 million in cash, whether in naira or in foreign currency, without obtaining prior approval from the CBN.

In the video, which many Nigerians are not happy with, the former Majority Leader in the Kano State House of Assembly, Baffa Babba Danagundi, popularly known as Baffanyo, revealed that Tinubu’s daughter, Folashade Tinubu-Ojo, came to his house and gave him 10 million naira in appreciation of what she saw at the APC rally in Kano.

The rally in Kano, which took place on January 4th, was organized by the APC to drum up support for the party ahead of the 2023 General Elections. The event was well attended by party faithfuls and other supporters from across the state, with many expressing their readiness to vote for the party come 2023.

Watch the video below.

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Source: MandyNews.com

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