Pekele007:




This is utter bullshit conjured by an ignorantly misguided illiterate.

Pekele007:

This is utter bullshit conjured by an ignorantly misguided illiterate.

contigiency:


Professor he goat, can you please tell us your own point of view backed with facts as an educated fellow.

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

chukwuibuipob:
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

Pekele007:




This is utter bullshit conjured by an ignorantly misguided illiterate.

Pekele007:




This is utter bullshit conjured by an ignorantly misguided illiterate.

doctokwus:
The Facebook poster is an illiterate and d post fit only for d trashbin it belongs.
So HSBC is only set up to launder money?
If I see this kind of post on fb,its just to permanently block such individual before the person corrupts me with his st upidity.

mployer:
Written by misguided illiterate.

maasoap:


If you are given a 1000 lifetime, you still wouldn't be able to match the writer's intellect and knowledge

Pekele007:




This is utter bullshit conjured by an ignorantly misguided illiterate.

AZeD1:
So much trash in one post.

Positivepoint:



A constructive argument could be benefit us all. Remember it's his opinion u can as well share URS. It's a free world

post=72839741:
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. I'm here that it is only thieves that don't want our darling PRESIDENT.
Let's not talk too much jor!

Pekele007:

I will rather open a thread on it separately

Pekele007:




This is utter bullshit conjured by an ignorantly misguided illiterate.

couragemurphy:
It couldnt have been more explicit than this.

The truth is, enemies of the state are not happy because Nigeria is currently on the path to Greatness.

All these are signs / symptoms that dark days are over.

When your enemies are not happy with you, it means you are progressing.

The truth is that PMB was slow, but the economy is stable now and the foundation for success has already been laid. So let us give chance to good governance.

Buhari is a man and is not perfect, but his imperfections are more tolerable than the perfections of all PDPs and their sympathisers.

No room for Atikulooters n Obituaries!

Hedonini:


Whoever wrote this nonsense is a hypocritical bastard. So you wrote all these and didn't deem it fit to mention Tinubu? So Tinubu does not own private jets, and all that? Only Atiku, Ben Bruce, and other PDP names are sweet in your mouth abi?

And you conveniently downplayed the fact that both the BVN and TSA were Jonathan initiatives? BVN that was initiated and IMPLEMENTED by Jonathan?

May Amadioha strike you and your PMB with all sorts of debilitating afflictions. APC maggot.

iammo:
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)

oglalasioux:
So much facts in the post.

Question is;

How does this government's fight against corruption benefit the common man?

Caseless:



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.

BlacSmit:
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.

sekembaakesan:
I don't like Buhari's presidency but this is the spoken truth

acebook page

jnrremedy:

A simple google search would have cured this ur ignorance
HSBC is the 5th largest bank in the world
Their total assets is more than times 5 Nigeria GDP
HSBC employs more than 200k people all around the world
They re involved in every kind of banking activities........them not applying for commercial licence in Nigeria does not mean they are not into all forms of banking service elsewhere