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It Is Sad That Two Global Banking Giants Are Leaving Nigeria - Atiku Abubakar - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / It Is Sad That Two Global Banking Giants Are Leaving Nigeria - Atiku Abubakar (36747 Views)

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Re: It Is Sad That Two Global Banking Giants Are Leaving Nigeria - Atiku Abubakar by Nobody: 8:12pm On Nov 06, 2018
I'm a little disappointed that someone of Atiku's stature is talking rubbish about the exit of UBS and HSBC. These banks had mere representative offices in Nigeria for their clients that want to do business in Nigeria - not anything close to fully-fledged operations. Rep offices are often a function of geography and deal pipelines, and almost never have in excess of 7 Staff - in most cases, 3 people. Both Rand Merchant Bank and Barclays have both entered and exited Nigeria in recent years without any hullabaloo. Nigeria's UBA has rep offices in Paris and London, and used to have one in China but closed it cos the deal pipeline was low.

SMH for Nigerian politicians.

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