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Deezer234 #Sapere Aude! @deezer234
, 31 tweets, 6 min read Read on Twitter
SO MUCH ADO ABOUT HSBC

#thread
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 a
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
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