hisgrace090:
Most of them are afread of buhari winning for second term and it consequences.

You are hungry!

So HSBC came into Nigeria, hoping to have near access to looters who they are globally infamously known to aid in laundering money.

Alas, they toiled night and day, and realised that era is slowly but surely winding down in Nigeria, and no business came their way.

They didn’t have money to launder again

SEGLIZ:
.... never heard of such ghost bank in this country before now (pardon my ignorance). 2 out of the facilities used in siphoning our soft currency to boost their system and make their currency harder, has just closed shop blaming Mr President for tightening the economy against them.
the report has blame Mr President, let wait and the first person to blame APC and Buhari for this.

Do you know that Nigeria trades internationally? All the transformers and equipment used in the power installations and telecoms equipment, even weapons, they are bought from companies which bank with these large banking corporations.

Their closing up shop is a clear indication of a sharp drop or even a crash in international trade with Nigeria.

Promismike:
Thanks to the dullard and his regressive government and policies

Can you wail at this pace till 2023?

Thank God !!!!
All the capital flight and money laundering banks are relocating. Rubbish bankers. Looters' bankers. They have never done development lending since their coming to Nigeria...only turning the direction of money out from Nigeria.

Following from the Jonathan administration, the gap between the rich and the poor widened, though their approaches and decisions differ. The end result has been the same thing. Yes we voted so we can see the recession of graft, approach to economic reinforcement has not been appealing to FDIs. The facts from NBS say so, I did not.
You have one vote. Use it wisely and with understanding of the consequence thenceforth.

SEGLIZ:
.... never heard of such ghost bank in this country before now (pardon my ignorance). 2 out of the facilities used in siphoning our soft currency to boost their system and make their currency harder, has just closed shop blaming Mr President for tightening the economy against them.
the report has blame Mr President, let wait and the first person to blame APC and Buhari for this.

You call HSBC and UBS Ghost bank? Honestly I really laugh at some of you.
You won't also know the importance and values of foreign investors and FDI to an economy

dre11:




https://punchng.com/two-global-banks-close-offices-in-nigeria/

Buhari is really working hard to bring Nigeria to its knees economically.

APC is working hard to take Nigeria 20yrs backward.

BMC are really working hard to remain in perpetual mumuism.

BSG are working hard to remain zombified.

A HSBC research note dated July 18 said a second President Muhammadu Buhari term “ raises the risk of limited economic progress and further fiscal deterioration , prolonging the stagnation of his first term , particularly if there is no move towards completing reform of the exchange rate system or fiscal adjustments that diversify government revenues away from oil. ”

Did anyone read this line?

That are banks for polithiefians

Buhari is working


sai baba

SEGLIZ:
.... never heard of such ghost bank in this country before now (pardon my ignorance). 2 out of the facilities used in siphoning our soft currency to boost their system and make their currency harder, has just closed shop blaming Mr President for tightening the economy against them.
the report has blame Mr President, let wait and the first person to blame APC and Buhari for this.

Tighten what economy?

If you lock down your economy you loose.

Nigeria is no longer an attractive market in Africa.

This foreign banks are the eyes of foreign investors in Nigeria.

Foreign investors don't trust local Banks.

Does the average Nigerian know where their offices were situated?

Caseless:

I didn't know they have offices here. Na only gtb, first bank, zenith, union, uba, etc, we know here.

Useless people.

Study and research una no go do. Then u come and expose ignorance like d lifeless one.

Foreign investors rushing Nigeria under the lifeless one

Less money to launder lol

I thought PMB said the economy is doing great under his watch

Throwback:
So HSBC came into Nigeria, hoping to have near access to looters who they are globally infamously known to aid in laundering money.

Alas, they toiled night and day, and realised that era is slowly but surely winding down in Nigeria, and no business came their way.

Right, because the presence of HSBC in New York, London, Hong Kong, Shanghai, Rio, Tokyo, Johannesburg, etc. is how they launder money. Not investment banking or the sign of a bubbling economy.

No more slush fund to launder

DQ94:
There was a report about a pastor who released a sextape involving him and a lover... It was on Front Page, even.

Well... Here goes: https://www.xvideos.com/video40711727/nigerian_pastor_funking_his_mistress

So what should we do with it

SEGLIZ:
.... never heard of such ghost bank in this country before now (pardon my ignorance). 2 out of the facilities used in siphoning our soft currency to boost their system and make their currency harder, has just closed shop blaming Mr President for tightening the economy against them.
the report has blame Mr President, let wait and the first person to blame APC and Buhari for this.

Ok lets assume u never heard of UBS but HSBC?
Kai walahi dont let zombieism do you na
Cc immhotep DaBullIT sarrki Roger3D strikethem

SEGLIZ:
.... never heard of such ghost bank in this country before now (pardon my ignorance). 2 out of the facilities used in siphoning our soft currency to boost their system and make their currency harder, has just closed shop blaming Mr President for tightening the economy against them.
the report has blame Mr President, let wait and the first person to blame APC and Buhari for this.

You referred to HSBC and UBS as ghost banks?

Ignorance is a serious disease

dingbang:
Did they even have offices in Nigeria? Didnt know though

Do you think you must have a physical presence to conduct business in any country? The world have gone global. There are many multinational companies in Nigeria that you don't hear about.

Go to FIRS and see names with their tax returns. They have people that represents their interest in Nigeria, negotiate and close out deals on their behalf. Most of the people they have here, rent offices in high brow Ikoyi and VI without pasting the name of the company any where.

You will just see on 5 or 6 people working for the multinational, closing out deals on their behalf and filing tax returns.

Oil companies comes to mind. A lot of unknown companies are operating in Nigerian oil and gas without being known to the public but know only to the authorities and regulators. They have offices in closed streets in lekki and VI without sign post.

It is only when you enter the compound that you see assorted jeeps and four wheel drives. That will tell you how far.

So, bro companies exist without having physical presence, especially the investment banks - Note that we have Deutchebank, Goldman Sachs, RMB and Barclays bank today in Nigeria but no physical office. They only pay tax based on the proportion of profit made only in Nigeria.

SEGLIZ:
.... never heard of such ghost bank in this country before now (pardon my ignorance). 2 out of the facilities used in siphoning our soft currency to boost their system and make their currency harder, has just closed shop blaming Mr President for tightening the economy against them.
the report has blame Mr President, let wait and the first person to blame APC and Buhari for this.

Get sense bro. If a foreigner wants to invest in this country, what bank do you think they use? There's a reason they are called investment banks. It's funny how everything about the woes of the economy is blamed on foreign entities.
If these banks are closing, then investment will also shrink. These banks also provide data for investors. SMH at your buffonery

A HSBC research note dated July 18 said a second President Muhammadu Buhari term “ raises the risk of limited economic progress and further fiscal deterioration , prolonging the stagnation of his first term , particularly if there is no move towards completing reform of the exchange rate system or fiscal adjustments that diversify government revenues away from oil

Accurate Assessment of this administration so far!!

According to CBN, foreign investors fallen sharply, foreign banks close shops. Nigeria becomes the biggest debtor country in Africa.

Buhari voters are most ignorant. They don't reason from the head, religious extremism and private pursuits influence Buhari voters who despite reading these facts but still intend to vote Buhari.

chloride6:
HMMM..

Good riddance though..

Came here with economic rent mindset

Citigroup is still on ground...

Lol, see typical ignorance and myopia. Nigeria has been downgraded to "junk" investment status by nearly all the major rating agencies in the world.
If citigroup is still around, it is because they established a presence in Nigeria long before 2015 unlike these two who are checking out like Andrew.
If the dullard continues ruining this country and creating more extreme poverty, citigroup will soon be on its way out too.

SEGLIZ:
.... never heard of such ghost bank in this country before now (pardon my ignorance). 2 out of the facilities used in siphoning our soft currency to boost their system and make their currency harder, has just closed shop blaming Mr President for tightening the economy against them.
the report has blame Mr President, let wait and the first person to blame APC and Buhari for this.

Wow HSBC and UBS are ghost banks ??

The level of wilful hopeless ignorance being displayed by some people is nauseating .
All in a bid to defend the Buhari .