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.

No more rice importation that requires their services wire money abroad

We don't even need them to import from China anymore because Buhari made it easier with a currency swap deal

So why won't they close their offices?

Abi na Dubai u wan buy from?

Focusmind:


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.

Even most of them have offices but they are not into retail banking and won't put on any sign. These people provide data for investors etc. If a German wants to invest in Nigeria, he most likely to use Deutchebank to channel his funds.

chloride6:
HMMM..

Good riddance though..

Came here with economic rent mindset

Citigroup is still on ground...

When citigroup leaves wonder what you will say, the economic environment is reasons we are losing investors let's be factual to ourselves

The ignorance going on here is mind blowing.

I give up!

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.

Truth is, they were but doing institutional and corporate banking. They are key to FDI inflow. No investment outlook is worth calling one without the services of a truly Big, Strong and Reliable Bank. Becoming seriously doubtful by the day if there are Nigerian owned banks that fits the bill. Now FDI must use correspondent banking initiatives to push through and that at extra cost! On the flip side, it may just that lack of stolen public funds deposits contributed to the departure! Au revoir!

PDP criminal BANK

Adam09:
All I see is propaganda. Let them Zap off. A bank that laundered money for criminals in government, a bank that shield Abacha's loot.
We do not need HSBC, Our Sheriff is in for a second term.
Sai Baba till 2023!

Is an empty brain a prerequisite for working with BMC? If you don't understand international business just keep quiet

Never again should we havery HSBC in Nigeria again!

For the purpose of those that are naive, hsbc and corruption are siamese twins. It is an open secret known all over the world.

https://www.google.co.uk/amp/s/amp.theguardian.com/business/2017/nov/01/hsbc-investigated-fund-transfers-south-africa-corruption-row-zuma-gupta

Caseless:

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

Useless people.

You’re really making your family proud . Keep it up

Focusmind:


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.

wow.. There is God

longjon:




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 .

They are zombies. Anybody who accepts a certificateless man to preside over Nigeria for the second time.

zoedew:


Truth is, they were but doing institutional and corporate banking. They are key to FDI inflow. No investment outlook is worth calling one without the services of a truly Big, Strong and Reliable Bank. Becoming seriously doubtful by the day if there are Nigerian owned banks that fits the bill. Now FDI must use correspondent banking initiatives to push through and that at extra cost! On the flip side, it may just that lack of stolen public funds deposits contributed to the departure! Au revoir!

The flipside you mentioned Is very wrong , as long as new investment are not coming in there is no need for them to be around..this is another testament of Buharis failure

No serious business wants to be associated with LIFELESSNESS ke!

sanpipita:


When citigroup leaves wonder what you will say, the economic environment is reasons we are losing investors let's be factual to ourselves

Citigroup has been here for as long as i can remember through thick and thin, they even obtained a banking license to show how serious they are.

But these one opened representative offices just milk us dry.

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're really ignorant..

Half education is dangerous to your brain.

SternProphet:
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.

They just told you the bitter truth. Soludo, Utomi and Sanusi have all condemned Buhari's economic policies particularly the exchange rate policies.

Google it. I wrote off this gocernment within 2 weeks of PMB assuming office.

HajimeSaito:


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.

Nigeria has been downgraded to "junk" investment status.

Not true, the last time i check we have been reassessed back to investment grade...

I think our sovereign rating is now B+ which is now investment grade.

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.

This is further Proof of my assertions that most say Buharist are very shallow low IQed ignorant folks who have never done anything useful and are neither exposed to the true working of an economy..no wonder they keep calling every one thief ... How will you know of these bank when you have never ventured on your life and depend on free alerts in the name of handouts... Shame dey catch man for you I swear

Spot on . There is a lot of ignorance on Nairaland and if this reflects what Is happening in the country , there is no hope for Nigeria .
From all the tribal comments to no iota on the Nigerian economy . SMH

Focusmind:


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.

Caseless:

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

Useless people.

It is not enough to rant and insult organizations on social media because of your love for an Islamic president.


Be prepared to face the reality.

chloride6:


Citigroup has been here for as long as i can remember through thick and thin, they even obtained a banking license to show how serious they are.

But these one opened representative offices just milk us dry.

How are they milking us dry? why do we get emotional in face of truth, do you realize how many companies that have left this country since 2015?

sanpipita:


How are they milking us dry? why do we get emotional in face of truth, do you realize how many companies that have left this country since 2015?

That UBS and HSBC were just repatriating stolen funds. They do not provide credit facilities to business, why has Stanbic not gone?

Rand Merchant Bank is a subsidiary of First Rand in South Africa they are even waxing stronger.

chloride6:


That UBS and HSBC were just repatriating stolen funds. They do not provide credit facilities to business, why has Stanbic not gone?

Rand Merchant Bank is a subsidiary of First Rand in South Africa they are even waxing stronger.

Only courts can decide funds that are stolen or illegal, this mentality of accusing banks this way is absurd, banks lodge whatever money is transacted to them, if govt or anyone feels a transacted money in any bank is illegal or stolen best is to go do investigation and get evidence, banks will release this monies they never hold stolen money unless its proven, if we follow your logic every bank in world milks ppl dry.

chloride6:


Nigeria has been downgraded to "junk" investment status.

Not true, the last time i check we have been reassessed back to investment grade...

I think our sovereign rating is now B+ which is now investment grade.

Whatever new investments are coming into this country or being added to the sovereign wealth fund is 100% due to the rise in oil prices and NOT because of any policies by this rudderless government.

fahren:
Can anything good come out of Buhari? I doubt, the back to Daura project is a national emergency.

Meanwhile, join me in Atikulating.

Flatron head spotted
How much were you bribed with?

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.

Be there politicising every serious issue from your comfort abroad or in Abuja where you receive N30,000.

I do hope that one day, you are able to see reasons to delineate politics from concern for actual lives of citizen and for true love for country.
Hopefully, one day.

Focusmind:


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.

Do they even understand
One of our drivers who drove for one company before said that then expatriates used to fly in with private jet, come in for deals and go back immediately.
There was one particular German young man not up to 30 years he drove one day. The guy flew in with his jet, he took him to Eko Atlantic, he wants to invest in it. he spent like 2 hours and he drove him back to the airport immediately.
And these big global investors deal with these big global banks

Neva heard abt them bfr...they ain't popular o

LZAA:

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

El-Dullardeen and APCheat have really zombified many people

The zoo has expired and dead.

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.

No be only Ghost Bank, honestly I'm tempted to call you an slowpoke, true