₦airaland Forum

bluecircle470:
It’s only for the wise and intelligent

Actually, its only foolish people that would believe this post.

We desperately need FDI into this country because they will empower , employ youths etc. The reason why they ain't coming as quickly is due to infrastructural decay. Electricity, road construction, rail etc is what this government should focus on but I guess all this can't happen overnight due to the bastards that messed up this country for 16 years, please PDP has no right to accuse PMB of anything. To build a football stadium takes 2or 3 years not to talk of rail. Ok did PDP build rail in 5years? Did PDP fix power in 5 years ? How many roads were constructed in 16 years? See PMB is d best right now and he has performed below expectation
but atiku had 8 years to do his job , most people don't get more that 3 chances in life so why should he feel he's the best for now. Infact we should change president every 4 years until it gets to my turn.

jnrremedy:
HSBC assets is 5 times more than the total GDP of Nigeria
They have more than 200k people on their payroll working in almost all countries of the world

I am talking.of their impact on Nigerian economy apart from acting as a conduit pipe for money launderers.

W
How many staff do they have in Nigeria?

Who have they lend to in Nigeria, thereby boosting the economy and facilitating job creation.

How many deals have they bewn involved and what is the value?

How many FDIs and FPIs have they attracted to Nigeria and how much was it?

AZeD1:
So much trash in one post.

Actually it’s not trash it’s a very insightful and informative post and he is totally right! The only issue is he didn’t also state how pmb policies have added to the slow down on the economy caused by these necessary and good adjustments by his Govt. Besides a very late cabinet he started well bt a year after he went from one mistake to another, continuously taking the wrong decision that is where pmbs issues began now. I mean he had a lot of goodwill and support before bt not rite now. Herdsmen killings and cow embarrassment, abuse of the rule of law and human rights, bad economic policies is Worse corruption!!!!


I’m almost ashamed I supported him and yes Pmb is responsible for making Atiku look like a saint to us tho I believe Atiku may have learnt sm lessons from his past mistakes.

If Atiku can atleast curb corruption and get Nigeria working he will win very easily.

jaxxy:
Actually it’s not trash it’s a very insightful and informative post and he is totally right! The only issue is he didn’t also state how pmb policies have added to the slow down on the economy caused by these necessary and good adjustments by his Govt. Besides a very late cabinet he started well bt a year after he went from one mistake to another, continuously taking the wrong decision that is where pmbs issues began now. I mean he had a lot of goodwill and support before bt not rite now. Herdsmen killings and cow embarrassment, abuse of the rule of law and human rights, bad economic policies is Worse corruption!!!!


I’m almost ashamed I supported him and yes Pmb is responsible for making Atiku look like a saint to us tho I believe Atiku may have learnt sm lessons from his past mistakes.

If Atiku can atleast curb corruption and get Nigeria working he will win very easily.

The post might look insightful to you because you have no idea how things work in the real world.

AZeD1:
The post might look insightful to you because you have no idea how things work in the real world.

I actually know 1st hand about sm of the things he posted. I hv worked in the financial world to a good extent. He’s right about the banks and money laundering. The effects and evidence are there. We cannot build a robust economy on grand corruption and expect we will not suffer the consequences later. There are businesses friendly policies that can boost the economy. We cannot go back to living in a fake economy even if we vote on Atiku.

jaxxy:
I actually know 1st hand about sm of the things he posted. I hv worked in the financial world to a good extent. He’s right about the banks and money laundering. The effects and evidence are there. We cannot build a robust economy on corruption and expect we will not suffer the consequences later. There are businesses friendly policies that can boost the economy. We cannot go back to living in a fake economy even if we vote on Atiku.

Ok.

oglalasioux:
You are still saying 'WILL BENEFIT' at the end of a 4 years political tenure. Show me how the common man has benefited from the lopsided fight against corruption. What can be done in the next 4 years that wouldn't have been done since 2015 if the president was serious about fighting corruption?

And don't tell me it's the people that will fight corruption. A government was elected to do that in 2015. If the government suddenly becomes confused then it should swerve so we can try another political party.

I am not talking about Buhari here, I am talking about the benefits of fighting corruption for any government , regardless of who is in power. Do we really have to politicize everything?. The Government in Nigeria is the innocent mirror of the nation. The quality of government and its leaders, is simply a reflection of the collective consciousness of all the people in Nigeria. In some instances, leaders who came to power as the champions of anti-corruption have themselves been charged with being involved with levels of corruption even more serious than those of their predecessors. If the collective consciousness in Nigeria is disintegrated and negative, and people are not behaving in accord with Natural Law, then problems and corruption will be an unavoidable phenomenon of government. If, on the other hand, the collective consciousness in Nigeria is positive, integrated, and coherent, then the government will not be influenced by any negativity. If the people in Nigeria wish to be protected from corruption in government, then they must create an integrated collective consciousness. Positivity and harmony should be so strong and dense in national consciousness that negative influences cannot penetrate it

romance and property section has minimal brainwashing.

AZeD1:
Actually, its only foolish people that would believe this post.

You’re pained

bluecircle470:
You’re pained

Lol!!!!

Wonderful right up.

Best article I have read in Nairaland, ever. I was enjoying it I didn't want it to end. Thank you so much to the writer.

What a revelation! Should I say 'thank you' for making me understand?

iammo:
Oga if you have a meaningful counter arguments let me know, please stop mentioning or quoting me with stupid smiley face... Taink you!!!

I'm more concerned at the mental gymnastics you are undergoing..
When will all know that the tenure of sanusi and Iweala happened during the time of obj and gej
Yet you still have the guts to bad mouth them at the same time..

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.

Which investments have they made to say that they're into investment banking in Nigeria?

Pekele007:
You think everyone is brain dead like you and your family members? You lack manners

Lol. You asked for it. Next time, make sure you come up with interesting counter opinions. And not this one line sentence response to rubbish intellectual write up like this.

I must commend the OP's write-up. It was clear and very believable. I must say that this doesn't mean other apparently contrary opinions do not have their own merits.

My take is that the OP's well-articulated analysis does not present a complete picture of the value chain within the financial system, which may be more complex than what has been presented. It only speaks to the foreign transfer of funds aspect.

There are so many variables. While it is obvious that the restriction on illicit foreign transfers, due to TSA, BVN.., might have reduced HSBC and Co's Nigerian client base, what the OP did not address is their investment banking portfolio performance. By this, I mean investments in stocks, bonds and other securities/financial instruments, etc. The slow recovery of the Nigerian stock market might have also influenced their exits especially where the long-term outlook for their investments is considered bad.

I do not know whether the gains recorded from the foreign fund transfer are more significant than those from investment portfolio, in which case the TSA clamp down will have given impetus to their exits. My point is, it is likely not the only major factor.

Irrespective of the ethical and regulatory merits of the OP's analysis, the overall fallout of HSBC and UPS's exits will still be that negative signals will be sent to the foreign investing community (not to you). And that is a crucial issue the Buhari administration has to address.

oglalasioux:
You are still saying 'WILL BENEFIT' at the end of a 4 years political tenure. Show me how the common man has benefited from the lopsided fight against corruption. What can be done in the next 4 years that wouldn't have been done since 2015 if the president was serious about fighting corruption?

And don't tell me it's the people that will fight corruption. A government was elected to do that in 2015. If the government suddenly becomes confused then it should swerve so we can try another political party.

Which one: "lopsided fight against corruption" or common man.

AZeD1:
The post might look insightful to you because you have no idea how things work in the real world.

And yeah, we're waiting for your own version of how things work "in the real world".

SuperS1Panther:
I am talking.of their impact on Nigerian economy apart from acting as a conduit pipe for money launderers.

W
How many staff do they have in Nigeria?

Who have they lend to in Nigeria, thereby boosting the economy and facilitating job creation.

How many deals have they bewn involved and what is the value?

How many FDIs and FPIs have they attracted to Nigeria and how much was it?

Ignorance is bad

akinszz:
they might have more than 5 times that's not the bone of contention. The issue is they aid looters to wire their loots to the foreign countries.

Do u even have any idea they were part of those that exposed haliburton scandal

maasoap:
And yeah, we're waiting for your own version of things work "in the real world".

Keep waiting, it will come soon.

AZeD1:
Actually, its only foolish people that would believe this post.

Deep down inside you knows it's true.

jnrremedy:
Do u even have any idea they were part of those that exposed haliburton scandal

Hmmm. Lazy Nigerian youth. You don't research at all. You just exposed HSBC more.

HSBC served as a conduit to launder the halibuton scandalous funds. It was leaked by a French investigative journalist.

4Play:
Here is a simple experiment: Type into Google the name of any major international bank followed by the words 'money laundering'. Whether it's Goldman Sachs, JP Morgan, Credit Suisse, Barclays, e.t.c; all have a news link relating to a money laundering scandal. Are we then going to say that all major international banks should not operate in Nigeria as Nigeria is too honest a country for such banks to function? HSBC and UBS operate in numerous well functioning countries, yet Buharists want us to believe that we are too honest for them.

The problem with the pro-Buhari crowd is that their attempts to portray a failed government as competent keeps running up against the obstacles posed by reality. Unable to use their usual tactic of denouncing critics as IPOB or PDP, they have resorted to scouring the internet looking for negative news stories about HSBC and UBS. Desperate stuff.

I don't 100% agree with you!

The Buharist are so hoodwinked by his integrity and incorruptible character that they honestly can't see any of his failings. They believe his critics are ingrates who don't appreciate the sacrifice he is making for the country. They believe his critics aren't given him time and are unreasonable.

I met a property developer (This is a guy that drives a brand new Toyota Lexus Jeep) some months back who was incensed at me for not appreciating Buhari's efforts and that he means well for the country.

Then there is the other side. Many believe he is corrupt as that simply explains the awful state of the economy. That he has forgotten the common man and that is why things are so hard for people now.

Both sides suffer from the same problem: a poor understanding of economics.

They do not realize that it was the senseless peg of the currency upon assumption of office in 2015 was what ran the economy aground. To worsen matters, he now prohibited buyers of 41 products from accessing the central bank for forex to import them. One of these products was palm oil, a product for which Nigeria produces only half of its requirements and it is a major raw material for many manufacturers. The list of economic evils committed by Buhari are endless!

jnrremedy:
Ignorance is bad

Just answer those questions instead of foaming in your mouth

[quote author= post=72840118]Can you just imagine all these bro?![/quote]bro, don't mind them!

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.

You are a cretinous fuuucktard!

What "investment banking" is HSBC or UBS doing in Nigeria?

sonature1:
I am sure you can't post this with your real identify

Spineless coward!

You father will be shocked I can I care less what any Igbo think.

Sagamite:
You are a cretinous fuuucktard!

What "investment banking" is HSBC or UBS doing in Nigeria?

Happy New Year.