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Real Reason HSBC And UBS Exited Nigeria! - Business - Nairaland

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Real Reason HSBC And UBS Exited Nigeria! by sekembaakesan(m): 1:00am On Nov 10, 2018
I don't like Buhari's presidency but this is the spoken truth

People have been screaming about the exit of HSBC and UBS as sign of bad economics. That's a huge lie.

I will try to explain it in a very simple way.

HSBC and UBS were never set up for regular banking.

When I say regular banking I mean retail banking.

They never ran salary accounts; they were never set up to afford loans to customers etc.

Their sole purpose was to help customers who can afford their services an easy way to transfer funds overseas.

Many do not know that since the inception of BVN which has made it easier for financial regulatory bodies to monitor outflow & inflow on every account, HSBC has been plotting their exit.

If anyone can make their books public, you would find out they had more outflow than inflow.

BVN was created February 2014 and then enforced by this government as from 2015.

What did that do?

Every account owner was
forced to get a BVN code on their account (s).

So if law enforcement and financial regulatory bodies accuse you of fraud, with your BVN
they can tell.... which account(s) you have funds stashed.

Any account without a BVN can no longer be run.

Movement of (illegal) huge sums especially overseas became a massive problem.

So imagine a bank whose main source of revenue is moving funds overseas, suddenly can stay for months on end and the only customers you get are those who maybe want
pay school fees overseas or medicals, won't you close shop?

No more wires of $200,000 and above to Dubai to buy that exotic penthouse or carrying on with shopping sprees.

No more bank instruments to private jet companies... overseas.

The importation of big boy toys; yachts, helicopters have reduced drastically.

Now, once you try to initiate a huge wire transfer, CBN red flags that account and next thing you know compliance is calling the account officer to produce KYC.

Within minutes SFU is doing a background check, thunder fire you if you are a civil servant or close to government.

You would have to explain what the funds are for/how they were acquired and this drastically hit such banks like HSBC and UBS!

Banks like Stanbic IBTC are able to stay afloat because even though they use the same model as HSBC, they are also solid in retail banking.

Any bank that opens shop under this current government with the sole aim of moving funds overseas will surely fail!

Look closely at those who are leading groups against PMB they are private jet, helicopter, yacht, schooners owners.

Many own those beautiful houses we see in Dubai, Abu Dhabi, Oman, Muscat, Seychelles, London, USA.

Go to our airports especially Lagos and Abuja, all those beautiful girls who once used to sell Dubai real estate deals are out of jobs.

The few you see have stopped hounding travelers like before.

Once upon a time you would see them hanging around airports and 5 star hotels, it made me wonder why Nigerians were seriously marketing UAE real state.

How do you think the transactions were being made? Through banks like HSBC and UBS (many of our local banks also were complicit)!
Now every dollar that passes through CBN to a foreign bank must have complete paperwork! Bankers are now very careful, no one wants to be invited by SFU (special fraud
unit) or EFCC to produce a customer.

Who are those crying about their exit?

The Fayoses, Atikus, Ben Bruces and their minions etc.

Look at the youth coming online to defend them; many were being flown by helicopter to private resorts all over the country.

That tap has dried up and that’s the reason you see many of them online pouring vituperation on PMB.

About 4 years ago, I told a friend that if PMB wins election few banks would be in trouble, Buhari won and it didn't take long it started
happening.

Many of the bank heads used depositors monies to sponsor politicians/campaigns, when investigations started many tried to not only hide their shady deals but shield customers under investigation.

Why won't these people hate PMB?

Why won't they blame their woes on PMB?

When I say many of these banks aren't setup for the common man, people wonder at what I mean.

A very good example; write a lovely proposal for a good business deal and take to the banks and 90% of the time you wont get funding but let APC and PDP finish primaries and produce governorship candidates.

Both candidates can work into same bank and get as much as N500m each for campaigns. Banks didn't care then.

What's the worst that could happen? Worst case scenario, one candidate would lose. Whoever wins would bring enough investments that would cover the N1bn both took, that was conventional banking until PMB came onboard.

If say odudu bank sponsors Rochas and he wins he would make sure almost all state accounts go to odudu bank.

Some governors went as far as making their account officers commissioners as compensation (I don’t want to call names).

Some bank relationship managers would go on leave close to election period to join the clients on the campaign trail, once the client wins they resign their appointments with the bank and become political appointees.

Why would a bank worker do that if the bank hasn't invested heavily on that politician?

Suddenly PMB appears with this yeye BVN, TSA! Banks now see SFU officers like regular staff as they are monitoring everything. @officialEFCC under magu has become a pain in the ass because money can't just disappear.

Who do they blame? PMB!

The instant BVN came into effect; do you know how many accounts were lying dormant because of BVN? With huge sums in them! Many folks especially people being investigated wouldn't want to come forward to claim them; oga Magu and gang were waiting.

When many of these politicians or billionaires tell you the economy isn't doing so well, look closely at the person because many of them
own some of these 5 star hotels.

Some rooms go as much N300, 000 à night.
Once upon time some folks would pay for as much as one year for a room/suite upfront.

Many of those militants/ folks involved in oil
bunkering operate this way.

Mondays through Fridays they are in the creeks sabotaging oil installations, Friday they get into their convoys to PHC and then jet off to Abuja and Lagos where they eventually check into these hotels.

You enter a place like Transcorp weekends you see them at the lobby, poolside and by Monday morning, banks are wiring funds to these hotels to cover expenses.

Today, the oil bunkering isn’t as lucrative as it once was.

First price of crude has dropped so selling bunkered oil isn't really worth it as it used
to be.

Secondly many countries are cutting down on the purchase of crude and third our military is hitting them harder than before so who is to blame?

They tell you banks are falling because of PMB; lie! Banks are falling because banks were never made for the common man.

I mean naija banks! TSA has collapsed most government accounts into central accounts.

So we no longer have many government accounts littered all over our banks, many of such accounts were set up just to steal and launder government monies.

Are these tweets saying Nigeria has suddenly become fine for the common man? HELL NO!

Nigeria for some years now has never favored us the ordinary folks but this is the first time we are seeing the crooked elite joining us to complain!

The fact they are complaining means something is being done to halt their crooked ways. Whatever it is, BABA PLEASE Continue!

And as for the common man, we didn’t get here in four years! It took years of plundering, bad/no planning to get here. It will take a while to get us out.

Signed
Concerned citizen who wouldn’t want to get fired by Monday morning for
saying what needs to be said.

THE END



As seen on a Facebook page

193 Likes 33 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by ZKOSOSO(m): 1:04am On Nov 10, 2018
So Long a Letter....! On top matter
Re: Real Reason HSBC And UBS Exited Nigeria! by AZeD1(m): 1:11am On Nov 10, 2018
So much trash in one post.

23 Likes 1 Share

Re: Real Reason HSBC And UBS Exited Nigeria! by Bragalane: 1:12am On Nov 10, 2018
Crooked Igbos n Igbos will have your head n that of the FB writer for this truth. Their entire life existence hates truth just like their life is predicated on hate n hating anything Nigeria / any position an Igbo is not heading.

64 Likes 4 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by iammo(m): 1:44am On Nov 10, 2018
Best post I have read in a long while on nairaland,

thank you OP.

All political party should institutionalize witch hunting/anti corruption drive, let another party/president also get there and probe previous goverments also or block loopholes, this their fight would further expose them and favor the masses.

Dankwanbo/ Okonjo /Sanusi and their like minds introduced TSA/BVN/and the fraud proof IPPS payroll systems only for Obj and JEG not to fully implement it just for fraudulent reasons like paying private staffs of their company through government ghost workers, keeping many government accounts to confuse the masses and steal funds after, or purposely excluding microfinance banks from bvn so as to have monopoly to fraud.

The tightly enforcement of financial laws sharply exposed Gov Yari when he tried diverting the first Paris club refund to buy properties in lekki Lagos , taking a cue from this, Gov Gandollar tried collecting his own loot from inflated contract through dollar stacks which led to his Exposure (something he would have collected it via proxy account if it was before).

When Jonathan's EFCC made a very effective large war campaign on yahoo boys and internet scammers, moving from schools to schools packing boys and their girlfriends, parading them weekly we all applauded him, Now buhari is going after him , his wife and his petroleum minister and people are throwing tantrums. Are we saying one scam is better than the other

87 Likes 3 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by chukwuibuipob: 1:45am On Nov 10, 2018
cool cool grin cheesy wink smiley cool many thanks to baba Daura..May we not see the evil/ pestilence years of Pd pigs again. .Dey want to Atikulate and Obituary to continue doing it the pd pigs usual way.E nor go beta for pd pigs and all the thieves dat want to ruin this country

35 Likes 4 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by chukwuibuipob: 1:55am On Nov 10, 2018
undecided undecided undecided undecided sad wink lipsrsealed embarassed lipsrsealed sad sad sad sad sad one can't help but pity those immigrants, osus, pigs fl@theads, kanu pigs, supporter of Hopeless thieves, expired gala/ lacasa seller.Hatred for pa Bubu has blind dem. They are children of 8., Atiku slaves..Pa bubu till 2023.Any aggrieve pigs fit go enter Marina wota, God nor go vex

33 Likes 4 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by BigBen10: 4:02am On Nov 10, 2018
Mods, Mydd44 this should make front page

2 Likes 1 Share

Re: Real Reason HSBC And UBS Exited Nigeria! by bantudra: 8:16am On Nov 10, 2018
its shameful that fee dee fee is using that as politics....

na jonathan even brought up the idea of bvn sef,according to south easterners....if its realy true,i dont know....i got interested in nigerian politics very lately....

but it baffles me that they are complaining when bvn is workin....

24 Likes 2 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by bantudra: 8:20am On Nov 10, 2018
their is a delibrate plan to keep nigeria down...this western nations know that,when nigeria succeds other african nations will emulate....

their is nothing more worse to them like a strong african continent...

29 Likes 3 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by sekembaakesan(m): 8:59am On Nov 10, 2018
Bragalane:
Crooked Igbos n Igbos will have your head n that of the FB writer for this truth. Their entire life existence hates truth just like their life is predicated on hate n hating anything Nigeria / any position an Igbo is not heading.




I don't have their piggy time...

5 Likes 1 Share

Re: Real Reason HSBC And UBS Exited Nigeria! by Caseless: 9:33am On Nov 10, 2018
cool


When I told those lesser-than-jack dunderheads that I don't miss those foreign thieves, I was called names here. I said it then that I'd feel it it's gtb, diamond, first bank , union bank, etc, that are closing shops. Who HSBC and co help if not corrupt people.

26 Likes 2 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by INTEGRITYA1(m): 9:33am On Nov 10, 2018
Okay
Re: Real Reason HSBC And UBS Exited Nigeria! by Groovenaija360(m): 9:35am On Nov 10, 2018
grin
Re: Real Reason HSBC And UBS Exited Nigeria! by KingAzari: 9:35am On Nov 10, 2018
God bless President nwanneMadu Buhari.

25 Likes 2 Shares

Re: Real Reason HSBC And UBS Exited Nigeria! by Groovenaija360(m): 9:36am On Nov 10, 2018
grin
N
Re: Real Reason HSBC And UBS Exited Nigeria! by Kennedy94(m): 9:36am On Nov 10, 2018
ok
Re: Real Reason HSBC And UBS Exited Nigeria! by TRUSTEDGUY: 9:36am On Nov 10, 2018
Unfavorable business environment

Insecurity Corruption Bad governance and leadership. High dollar / naira exchange. Yahoo boys etc.. the list endless.

1 Like

Re: Real Reason HSBC And UBS Exited Nigeria! by Pekele007: 9:36am On Nov 10, 2018
sekembaakesan:
I don't like Buhari's presidency but this is the spoken truth

People have been screaming about the exit of HSBC and UBS as sign of bad economics. That's a huge lie.

I will try to explain it in a very simple way.

HSBC and UBS were never set up for regular banking.

When I say regular banking I mean retail banking.

They never ran salary accounts; they were never set up to afford loans to customers etc.

Their sole purpose was to help customers who can afford their services an easy way to transfer funds overseas.

Many do not know that since the inception of BVN which has made it easier for financial regulatory bodies to monitor outflow & inflow on every account, HSBC has been plotting their exit.

If anyone can make their books public, you would find out they had more outflow than inflow.

BVN was created February 2014 and then enforced by this government as from 2015.

What did that do?

Every account owner was
forced to get a BVN code on their account (s).

So if law enforcement and financial regulatory bodies accuse you of fraud, with your BVN
they can tell.... which account(s) you have funds stashed.

Any account without a BVN can no longer be run.

Movement of (illegal) huge sums especially overseas became a massive problem.

So imagine a bank whose main source of revenue is moving funds overseas, suddenly can stay for months on end and the only customers you get are those who maybe want
pay school fees overseas or medicals, won't you close shop?

No more wires of $200,000 and above to Dubai to buy that exotic penthouse or carrying on with shopping sprees.

No more bank instruments to private jet companies... overseas.

The importation of big boy toys; yachts, helicopters have reduced drastically.

Now, once you try to initiate a huge wire transfer, CBN red flags that account and next thing you know compliance is calling the account officer to produce KYC.

Within minutes SFU is doing a background check, thunder fire you if you are a civil servant or close to government.

You would have to explain what the funds are for/how they were acquired and this drastically hit such banks like HSBC and UBS!

Banks like Stanbic IBTC are able to stay afloat because even though they use the same model as HSBC, they are also solid in retail banking.

Any bank that opens shop under this current government with the sole aim of moving funds overseas will surely fail!

Look closely at those who are leading groups against PMB they are private jet, helicopter, yacht, schooners owners.

Many own those beautiful houses we see in Dubai, Abu Dhabi, Oman, Muscat, Seychelles, London, USA.

Go to our airports especially Lagos and Abuja, all those beautiful girls who once used to sell Dubai real estate deals are out of jobs.

The few you see have stopped hounding travelers like before.

Once upon a time you would see them hanging around airports and 5 star hotels, it made me wonder why Nigerians were seriously marketing UAE real state.

How do you think the transactions were being made? Through banks like HSBC and UBS (many of our local banks also were complicit)!
Now every dollar that passes through CBN to a foreign bank must have complete paperwork! Bankers are now very careful, no one wants to be invited by SFU (special fraud
unit) or EFCC to produce a customer.

Who are those crying about their exit?

The Fayoses, Atikus, Ben Bruces and their minions etc.

Look at the youth coming online to defend them; many were being flown by helicopter to private resorts all over the country.

That tap has dried up and that’s the reason you see many of them online pouring vituperation on PMB.

About 4 years ago, I told a friend that if PMB wins election few banks would be in trouble, Buhari won and it didn't take long it started
happening.

Many of the bank heads used depositors monies to sponsor politicians/campaigns, when investigations started many tried to not only hide their shady deals but shield customers under investigation.

Why won't these people hate PMB?

Why won't they blame their woes on PMB?

When I say many of these banks aren't setup for the common man, people wonder at what I mean.

A very good example; write a lovely proposal for a good business deal and take to the banks and 90% of the time you wont get funding but let APC and PDP finish primaries and produce governorship candidates.

Both candidates can work into same bank and get as much as N500m each for campaigns. Banks didn't care then.

What's the worst that could happen? Worst case scenario, one candidate would lose. Whoever wins would bring enough investments that would cover the N1bn both took, that was conventional banking until PMB came onboard.

If say odudu bank sponsors Rochas and he wins he would make sure almost all state accounts go to odudu bank.

Some governors went as far as making their account officers commissioners as compensation (I don’t want to call names).

Some bank relationship managers would go on leave close to election period to join the clients on the campaign trail, once the client wins they resign their appointments with the bank and become political appointees.

Why would a bank worker do that if the bank hasn't invested heavily on that politician?

Suddenly PMB appears with this yeye BVN, TSA! Banks now see SFU officers like regular staff as they are monitoring everything. @officialEFCC under magu has become a pain in the ass because money can't just disappear.

Who do they blame? PMB!

The instant BVN came into effect; do you know how many accounts were lying dormant because of BVN? With huge sums in them! Many folks especially people being investigated wouldn't want to come forward to claim them; oga Magu and gang were waiting.

When many of these politicians or billionaires tell you the economy isn't doing so well, look closely at the person because many of them
own some of these 5 star hotels.

Some rooms go as much N300, 000 à night.
Once upon time some folks would pay for as much as one year for a room/suite upfront.

Many of those militants/ folks involved in oil
bunkering operate this way.

Mondays through Fridays they are in the creeks sabotaging oil installations, Friday they get into their convoys to PHC and then jet off to Abuja and Lagos where they eventually check into these hotels.

You enter a place like Transcorp weekends you see them at the lobby, poolside and by Monday morning, banks are wiring funds to these hotels to cover expenses.

Today, the oil bunkering isn’t as lucrative as it once was.

First price of crude has dropped so selling bunkered oil isn't really worth it as it used
to be.

Secondly many countries are cutting down on the purchase of crude and third our military is hitting them harder than before so who is to blame?

They tell you banks are falling because of PMB; lie! Banks are falling because banks were never made for the common man.

I mean naija banks! TSA has collapsed most government accounts into central accounts.

So we no longer have many government accounts littered all over our banks, many of such accounts were set up just to steal and launder government monies.

Are these tweets saying Nigeria has suddenly become fine for the common man? HELL NO!

Nigeria for some years now has never favored us the ordinary folks but this is the first time we are seeing the crooked elite joining us to complain!

The fact they are complaining means something is being done to halt their crooked ways. Whatever it is, BABA PLEASE Continue!

And as for the common man, we didn’t get here in four years! It took years of plundering, bad/no planning to get here. It will take a while to get us out.

Signed
Concerned citizen who wouldn’t want to get fired by Monday morning for
saying what needs to be said.

THE END



As seen on a Facebook page



This is utter bullshit conjured by an ignorantly misguided illiterate.

29 Likes

Re: Real Reason HSBC And UBS Exited Nigeria! by TRUSTEDGUY: 9:36am On Nov 10, 2018
Unfavorable business environment

1 Like

Re: Real Reason HSBC And UBS Exited Nigeria! by contigiency(m): 9:36am On Nov 10, 2018
Let them go. After all light and darkness never meet. They were having a field day destroying our economy by helping looters to ship their loots to oversee when PDP was in power, especially HSBC. Then, the environment was condusive for them. You can guess Why Atiku shouted at the hearing of their exit.

But since the buhari presidency, when almost all the loose ends have been blocked, they can no longer have enough patronage hence they have no option but to leave. I want to warn them never to set their foots on this land again.

7 Likes 1 Share

Re: Real Reason HSBC And UBS Exited Nigeria! by Isaacpyo04(m): 9:36am On Nov 10, 2018
To start with, you aren't even a good writer.
The whole epistle is rubbish littered with misinformation, sentiments and hearsay. You have done little or no research.

If you don't know what investment banking is all about, then we can't help you.

Buhari puppet!

17 Likes 1 Share

Re: Real Reason HSBC And UBS Exited Nigeria! by Nobody: 9:37am On Nov 10, 2018
Op, I have a contrary opinion. HSBC and UBS are both into investment banking. Which means, they invest in emerging opportunities and reap off it when it is full fledged. Absence of emerging opportunities and a good performing local exchange (NSE) led to their premature exit.

The FG should have help keep them a little longer if it had initiated a reform in the market or at least, stabilized the political sphere of the country.

30 Likes 1 Share

Re: Real Reason HSBC And UBS Exited Nigeria! by Firefire(m): 9:37am On Nov 10, 2018
Ok
Re: Real Reason HSBC And UBS Exited Nigeria! by I888(m): 9:38am On Nov 10, 2018
sekembaakesan:
I don't like Buhari's presidency but this is the spoken truth

People have been screaming about the exit of HSBC and UBS as sign of bad economics. That's a huge lie.

I will try to explain it in a very simple way.

HSBC and UBS were never set up for regular banking.

When I say regular banking I mean retail banking.

They never ran salary accounts; they were never set up to afford loans to customers etc.

Their sole purpose was to help customers who can afford their services an easy way to transfer funds overseas.

Many do not know that since the inception of BVN which has made it easier for financial regulatory bodies to monitor outflow & inflow on every account, HSBC has been plotting their exit.

If anyone can make their books public, you would find out they had more outflow than inflow.

BVN was created February 2014 and then enforced by this government as from 2015.

What did that do?

Every account owner was
forced to get a BVN code on their account (s).

So if law enforcement and financial regulatory bodies accuse you of fraud, with your BVN
they can tell.... which account(s) you have funds stashed.

Any account without a BVN can no longer be run.

Movement of (illegal) huge sums especially overseas became a massive problem.

So imagine a bank whose main source of revenue is moving funds overseas, suddenly can stay for months on end and the only customers you get are those who maybe want
pay school fees overseas or medicals, won't you close shop?

No more wires of $200,000 and above to Dubai to buy that exotic penthouse or carrying on with shopping sprees.

No more bank instruments to private jet companies... overseas.

The importation of big boy toys; yachts, helicopters have reduced drastically.

Now, once you try to initiate a huge wire transfer, CBN red flags that account and next thing you know compliance is calling the account officer to produce KYC.

Within minutes SFU is doing a background check, thunder fire you if you are a civil servant or close to government.

You would have to explain what the funds are for/how they were acquired and this drastically hit such banks like HSBC and UBS!

Banks like Stanbic IBTC are able to stay afloat because even though they use the same model as HSBC, they are also solid in retail banking.

Any bank that opens shop under this current government with the sole aim of moving funds overseas will surely fail!

Look closely at those who are leading groups against PMB they are private jet, helicopter, yacht, schooners owners.

Many own those beautiful houses we see in Dubai, Abu Dhabi, Oman, Muscat, Seychelles, London, USA.

Go to our airports especially Lagos and Abuja, all those beautiful girls who once used to sell Dubai real estate deals are out of jobs.

The few you see have stopped hounding travelers like before.

Once upon a time you would see them hanging around airports and 5 star hotels, it made me wonder why Nigerians were seriously marketing UAE real state.

How do you think the transactions were being made? Through banks like HSBC and UBS (many of our local banks also were complicit)!
Now every dollar that passes through CBN to a foreign bank must have complete paperwork! Bankers are now very careful, no one wants to be invited by SFU (special fraud
unit) or EFCC to produce a customer.

Who are those crying about their exit?

The Fayoses, Atikus, Ben Bruces and their minions etc.

Look at the youth coming online to defend them; many were being flown by helicopter to private resorts all over the country.

That tap has dried up and that’s the reason you see many of them online pouring vituperation on PMB.

About 4 years ago, I told a friend that if PMB wins election few banks would be in trouble, Buhari won and it didn't take long it started
happening.

Many of the bank heads used depositors monies to sponsor politicians/campaigns, when investigations started many tried to not only hide their shady deals but shield customers under investigation.

Why won't these people hate PMB?

Why won't they blame their woes on PMB?

When I say many of these banks aren't setup for the common man, people wonder at what I mean.

A very good example; write a lovely proposal for a good business deal and take to the banks and 90% of the time you wont get funding but let APC and PDP finish primaries and produce governorship candidates.

Both candidates can work into same bank and get as much as N500m each for campaigns. Banks didn't care then.

What's the worst that could happen? Worst case scenario, one candidate would lose. Whoever wins would bring enough investments that would cover the N1bn both took, that was conventional banking until PMB came onboard.

If say odudu bank sponsors Rochas and he wins he would make sure almost all state accounts go to odudu bank.

Some governors went as far as making their account officers commissioners as compensation (I don’t want to call names).

Some bank relationship managers would go on leave close to election period to join the clients on the campaign trail, once the client wins they resign their appointments with the bank and become political appointees.

Why would a bank worker do that if the bank hasn't invested heavily on that politician?

Suddenly PMB appears with this yeye BVN, TSA! Banks now see SFU officers like regular staff as they are monitoring everything. @officialEFCC under magu has become a pain in the ass because money can't just disappear.

Who do they blame? PMB!

The instant BVN came into effect; do you know how many accounts were lying dormant because of BVN? With huge sums in them! Many folks especially people being investigated wouldn't want to come forward to claim them; oga Magu and gang were waiting.

When many of these politicians or billionaires tell you the economy isn't doing so well, look closely at the person because many of them
own some of these 5 star hotels.

Some rooms go as much N300, 000 à night.
Once upon time some folks would pay for as much as one year for a room/suite upfront.

Many of those militants/ folks involved in oil
bunkering operate this way.

Mondays through Fridays they are in the creeks sabotaging oil installations, Friday they get into their convoys to PHC and then jet off to Abuja and Lagos where they eventually check into these hotels.

You enter a place like Transcorp weekends you see them at the lobby, poolside and by Monday morning, banks are wiring funds to these hotels to cover expenses.

Today, the oil bunkering isn’t as lucrative as it once was.

First price of crude has dropped so selling bunkered oil isn't really worth it as it used
to be.

Secondly many countries are cutting down on the purchase of crude and third our military is hitting them harder than before so who is to blame?

They tell you banks are falling because of PMB; lie! Banks are falling because banks were never made for the common man.

I mean naija banks! TSA has collapsed most government accounts into central accounts.

So we no longer have many government accounts littered all over our banks, many of such accounts were set up just to steal and launder government monies.

Are these tweets saying Nigeria has suddenly become fine for the common man? HELL NO!

Nigeria for some years now has never favored us the ordinary folks but this is the first time we are seeing the crooked elite joining us to complain!

The fact they are complaining means something is being done to halt their crooked ways. Whatever it is, BABA PLEASE Continue!

And as for the common man, we didn’t get here in four years! It took years of plundering, bad/no planning to get here. It will take a while to get us out.

Signed
Concerned citizen who wouldn’t want to get fired by Monday morning for
saying what needs to be said.

THE END



As seen on a Facebook page


shut up. you registered not long ago and posted this?

13 Likes 1 Share

Re: Real Reason HSBC And UBS Exited Nigeria! by MANNABBQGRILLS: 9:38am On Nov 10, 2018
I888:



shut up. you registered not long ago and posted this?
See this one leaving the deep message and attacking the messenger.
We pity your future and that of your unborn kids.
Pathetic soul!
Supporter of criminals.

............. ................ .................. ...............
Hmmmmm, where can we start from!
What we wrote about in the not so long past is coming up again.
We have written times without number that it is only thieves that don't want our darling PRESIDENT.
Let's not talk too much jor!

15 Likes 1 Share

Re: Real Reason HSBC And UBS Exited Nigeria! by cescky(m): 9:38am On Nov 10, 2018
grin

Read between the lines... Buhari media crew at work.

Plenty stories with no facts to back up your points..

Keep speculating.. government of the dullard for the dullards..

Meanwhile in the same ask rock, millions are budgeted for drugs but the drugs are invincible

450 million is used to cut grass

Millions of naira is bugdeted for Buhari hair cut.

Buhari is a failure..and these speculations are a poor excuse at covering his dullness...

Wasn't it bill gate that blasted them a few months back? How did they respond? They responded by saying bill gates the worlds richest man knows nothing about economics ..it's the same tactics being employed here..

Man that employed 15 sans to defend his lifeless lack of certificate in 2015..now manufacturs one and he's your hero... Nigeria is the worst of nations in the 3rd part of the 3rd world part of Africa

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Re: Real Reason HSBC And UBS Exited Nigeria! by Nobody: 9:39am On Nov 10, 2018
cheesy

BVN, another giant stride by Jonathan-led government.

If high ranking Government officials (especially in the ruling party) wants to launder money, they can still do it by marking the luggage filled money as a "Diplomatic Baggage". No customs or Airport Official will check such luggage.

Ask your Presidenti, it was done during his first regime as a military Head of State. The method was used to move $20b using suitcases filled with cash and Dikko was extradited from the UK by Buhari using the same method.

The man is very successful in this 'business'. - ©Eedris Abdulkareem.

"Abacha rehabilitated Buhari with the chairmanship of the Petroleum Trust Fund (PTF) before he (Abacha) died in 1998. When Obasanjo returned to power in May 1999 as civilian president, he found that over 2.5 billion naira had not been properly accounted for in the PTF and that there was not much on the ground to show for the colossal expenditure the agency was claiming. On the day Obasanjo announced the scrapping of the PTF, a non-staff brother-in-law of the boss, allegedly serving as his conduit on some PTF projects, died suddenly from what appeared to be heart failure. Most of what he was able to achieve in the PTF, was focused in his backyard. Haruna Adamu, who was appointed by Obasanjo to investigate the PTF before finally consigning it to the dung heap, quickly pocketed one hundred million naira of PTF’s money before operating table could be set up for him, thus forcing Obasanjo to hurriedly close the place down without further investigations. Buhari has been trying desperately since to return to power, perhaps to get a chance to shred the PTF documents?

Buhari is a tribal and religious bigot. When he lost the presidential election in April 2003, he threatened the nation with mass action and refused to go to court. He organized a rally in Abuja, as one in a series of such civil acts of disobedience to protest what he described as the massive rigging of the election that brought Obasanjo to power the second time."

©http://saharareporters.com/2010/04/30/all-nigerian-coup-generals-were-rogues…and-general-muhammadu-buhari-was-no-exception

MY VERDICT: Majority of Nigerian politicians aren't clean, even your Buhari.
post=72839741:
yawns

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Re: Real Reason HSBC And UBS Exited Nigeria! by Horus(m): 9:39am On Nov 10, 2018

https://www.youtube.com/watch?v=LsiTDf8fFWg

HSBC & the Largest Money Laundering Fine Ever

The US government recently hit HSBC, Europe's largest bank with the biggest anti-money laundering fine in history: a cool 1.9 Billion dollars, along with deferred prosecution, partially docked bonuses and a monitoring overhaul.


https://www.youtube.com/watch?v=dXOggrrxHPU

UBS is on Trial for aggravated tax fraud and money laundering

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Re: Real Reason HSBC And UBS Exited Nigeria! by Caseless: 9:39am On Nov 10, 2018
Pekele007:




This is utter bullshit conjured by an ignorantly misguided illiterate.
give us what is superior to this or shut your damn mouth.

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