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.
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.
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
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....
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
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...
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.
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
private jet, helicopter, yacht, schooners owners. Many own those
beautiful houses we see in Dubai, Abu Dhabi, Oman, Muscat,
Seychelles, London, USA.
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,
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)!
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
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
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
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;
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.
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.
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).
join the clients on the campaign trail, once the client wins they
resign their appointments with the bank and become political
are monitoring everything. @officialEFCC under magu has become a pain in 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;
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 a
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
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.
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
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
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!
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!
here in four years! It took years of plundering, bad/no planning to
get here. It will take a while to get us out.
Concerned citizen who wouldn’t want to get fired by Monday morning for
saying what needs to be said.