Federal Government replies UK Bank, HSBC after the bank predicted that Buhari's second term raises the risk of limited economic progress and further fiscal deterioration.

Read the full press statement below:

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.

https://infobasenaija.com.ng/you-have-no-moral-right-to-predict-buharis-second-term-disasters-presidency-fires-back-at-uk-bank-hsbc/

Ok

Tah sharrap! If they had hailed the clueless leadership of this lifeless fossil would they say HSBC has ni moral right to commend or show support for it? Yeye dem!

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.

I thought Bubu said Abacha never stole any money? No be HSBC and UK Savings and Loans him open again? Rubbish idiots!

UK don't give them, they want to use it to rig election. and besides Abacha never stole

It's a good thing that the presidency replies the bank in same measure. No need to be nice at this moment.

However , they should have limited their diatribe to other corruption cases involved in by the bank aside Abacha's loot.

Don't they realize that they are by extension contradicting their principal who is fond of Abacha and adulates him whenever the opportunity comes.

One has to be foolish or irredeemably stupid to be supporting Buhari, his followers are more like people with no functioning brain. The same man who served and denied Abacha of any wrong doing “corruption” is the same man today accusing a bank of laundering money for his friend and someone he vigorously defended, and we still have people who is hailing and wishing for him to come back and rule them at nearly 80. Nigeria is cursed.

E pain dem wella

Assuming HSBC made this prediction on GEJ before 2015 presidential elections, Buhari and his band of thieves in APC will commend HSBC for a job well done. Bloody useless govt.

Abacha was never Corrupt. ~ Buhari.

brownlord:
One has to be foolish or irredeemably stupid to be supporting Buhari, his followers are more like people with no functioning brain. The same man who served and denied Abacha of any wrong doing “corruption” is the same man today accusing a bank of laundering money for his friend and someone he vigorously defended, and we still have people who is hailing and wishing for him to come back and rule them at nearly 80. Nigeria is cursed.

Only a zombie believe buhari is fighting corruption. A friend of a Thieve is a Thieve. That is how northern political thieves protect each other (Case in point, Babachir, Maina, etc)