The Nigerian Presidency has sent a strongly worded message to UK banking giant, HSBC to return stolen funds it helped to launder over the years.

In a statement released on Saturday by the Special Senior Assistant to President Muhammadu Buhari on Media and Publicity, Garba Shehu, HSBC had earlier predicted that a second term of Buhari’s administration would “stunt Nigeria’s economy” but the bank had no “moral right” to make such prediction considering its “active” contribution to looting activities carried out by past leaders in the country and even a sitting Senator.

Read the full statement:

“The Presidency wishes to make clear to all Nigerians, and particularly the global banking giant HSBC which said the second term of President Muhammadu Buhari would stunt the economy, that what killed Nigeria’s economy in the past was the unbridled looting of state resources by leaders, the type which was actively supported by HSBC.

A bank that soiled its hand with ‘‘millions of US dollars yet-to-be-recovered Abacha loot’’, and continued until a few months ago to shield the stolen funds of one of the leaders of the Nigerian Senate has no moral right whatsoever to project that a “second term for Mr. Buhari raises the risk of limited economic progress and further fiscal deterioration.”
Rather, we ask them to heed President Buhari’s constant refrain: return our stolen assets, then see how well we will do.

From the facts available to our investigation agencies, HSBC’s put down on President Buhari is no more than an expression of frustration over the administration’s measures put in place which has abolished grand corruption, the type which this bank thrives on in many countries.
They may also just be out to discredit the President out of the fear of sanctions and fines following the national assets that are stolen.
With the coming of President Buhari, it is not a secret that corruption, corrupt individuals, banks and other corporate entities that aided corrupt practices are under investigation for various offenses.

For many of them, including their friends in the media, they would rather have President Buhari out of their way, for business as usual to return.
Our investigation agencies believe that HSBC had laundered more than USD 100,000,000 for the late General Sani Abacha in Jersey, Paris, London and Geneva.

Among these accounts on the records are: AC: S-104460 HSBC Fund Admin Ltd. Jersey ($12,000,000); AC 37060762 HSBC Life (Europe), U.K ($20,000,000) and AC: 38175076 HSBC Bank Plc. U.K ($1,600,000).
The bank is also suspected in the laundering of proceeds of corruption involving more than 50 other Nigerians, including a serving Senator as earlier indicated.

In a book, “Secrecy World: Inside the Panama Papers Investigation”, published in 2017, Jack Bernstein told the story of global money laundering highlighting the unenviable place of the HSBC.

This is a bank that states and federal authorities in the U.S. forced to pay $1.92 billion to settle charges of money laundering; fined $1.2 billion in Hong Kong for “systemic deficiencies” in bond sales and was made to pay $100 million in currency rigging settlement as reported by The Telegraph of 18th January, 2018.”

http://www.mcebisco.com.ng/2018/09/return-our-stolen-assets-then-see-how.html

This administration is the most fraudulent since the creation of Nigeria.

All recovered loots has been fully re-looted.

Which stolen funds? The one stolen by buhari in 1977-1978 and stashed in Midland Bank (Now HSBC) or the one stolen by Abacha, the guy buhari swore was not Corrupt?

Garbage Shehu:
Our investigation agencies believe that HSBC had laundered more than USD 100,000,000 for the late General Sani Abacha in Jersey, Paris, London and Geneva.

And what have the lifeless president/government done with all the previously recovered/repatriated loots
A massive corruption us ongoing.

saaron:
Which stolen funds? The one stolen by buhari in 1977-1978 and stashed in Midland Bank (Now HSBC) or the one stolen by Abacha, the guy buhari swore was not Corrupt?

Mohomodu Buhary is berry kworupt both in stealing by tricks and morally.

Only a useless govt will waste $300 million Abacha loot on almajiris, only to run to China and borrow $300 million for ICT development in Nigeria.
Bloody illiterates.

Firefire:



Mohomodu Buhary is berry kworupt both in stealing by tricks and morally.

Those of us who know buhari know he is one of the most CORRUPT souls in Nigeria.

saaron:
Those of us who know buhari know he is one of the most CORRUPT souls in Nigeria.

Only religious extremists and potential suicide bombers have contrary views.

Even the so-called recovered loot are being re-looted under the watch of the incompetent one in the name of grasscutting, payment of legal fees to some dubious lawyers, employment racket of dead people etc.

NNPC $25b contract scam has been swept under the carpet.

As it was in PTF under the incompetent tyrant, so it is today with massive looting ongoing with him aloof.

What have the dullard done with the assets he met on ground other than causing inflation . see how the UK will be laughing at the lifeless one

Firefire:
This administration is the most fraudulent since the creation of Nigeria.

All recovered loots has been fully re-looted.

I thought you miscreants said no money was stolen even after your lords confessed to looting and rape. So what recovered loot are you talking about?

saaron:
Which stolen funds? The one stolen by buhari in 1977-1978 and stashed in Midland Bank (Now HSBC) or the one stolen by Abacha, the guy buhari swore was not Corrupt?

U hv said it all. Buhari and his handlers are evil and will never hear the truth abt them. I tot Buhari said Abacha never stole. I laugh when I read d part dt said they Shld return d money and see hw well they will do. Lol. Hand over America's Economy to Buhari and he will crumble it in 6months.

Personally, I don't think it's wise to release all the funds recovered to this Dispensation.. Reason being that nothing tangible has been done with the ones Recovered...
Re-looting Recovered funds or Frivolous spending is not what we need..

Kcwise199:

U hv said it all. Buhari and his handlers are evil and will never hear the truth abt them. I tot Buhari said Abacha never stole. I laugh when I read d part dt said they Shld return d money and see hw well they will do. Lol. Hand over America's Economy to Buhari and he will crumble it in 6months.

Buhari's corrupt govt is desperately looking for hard currencies to buy votes in 2019.

Printerscanner:


I thought you miscreants said no money was stolen even after your lords confessed to looting and rape. So what recovered loot are you talking about?

I also thought you zombies believed your terrorist ruler when the cow said Abacaha never stole?