Thread by @Ehix07

SOME NIGERIANS HAVE BEEN SCREAMING ABOUT THE EXIT OF FOREIGN BANKS FROM NIGERIA AS A RESULT OF BAD ECONOMY.
THAT'S A HUGE LIE,I WILL EXPLAIN IT IN A VERY SIMPLE WAY. .....

THREAD

The two bank that exit Nigeria which i will refer to as Bank A and Bank B were never set up for regular banking,when i say regular banking i mean retail banking.They never ran a salary account, they were never set up to afford loan to customers etc.Their sole purpose was to help

Customers who can afford thier 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 and inflow on every account, Bank A and B has been plotting thier exit.

If anyone can make their books public, you will find out they had more outflow than inflow. BVN was created February 2014 and then enforced by this govt as from 2015. What did that do? Every account owners was forced to get BVN code on thier 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(s) without a BVN can no longer be run. Movement of illegal huge sums especially overseas became massive problem. So imagine a Bank whose main

Source of revenue is moving funds overseas suddenly can't stay for months in the end. The only customers you get are those who maybe want to pay school fees overseas or medicals, won't you close shop? No more wires of $200000 and above to Dubai to buy that exotic penthouse or

Carrying on the shopping sprees. No more bank instruments to private jet companies overseas.the importation of big boys toys, yacht, helicopter have reduced drastically. Now once you try to initiate a huge transfer CBN red flag that account and next thing you know compliance is

Calling the account officer to produce KYC within minutes and SFU is doing a background checks, thunder fire the person if S/he is a civil servant or close to govt. You would have to explain what the funds are for and how they were acquired and this drastically hit such banks

Like Bank A and B. Banks like stanbic IBTC are able to stay afloat because even though they use same model as Bank A and B,they are also solid in retail banking. Any bank that opens shop under this current govt with the sole aim of moving funds overseas will surely fail

Look at those groups against PMB,they are private jet owners, helicopter, yacht,schooners owners. Many own those beautiful houses we seeing Dubai, Abu Dhabi,Oman,Moscow,Seychelles,London,USA.go to our Airport especially lagos and Abuja,all those ladies that once used to sell

Dubai real estate deals are out of jobs.the few you see have stopped hounding travellers like before. Once upon a time you would see then hanging around airports and 5-star hotels,it na dem me wonder why Nigerians were seriously marketing UAE real estate. How do you think the

Transaction were being made through Bank A and B (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 more careful,Now one want to be invited by SFU or EFCC to produce a customer

Who are those crying about thier exit,The fayoses,Atiku’s and Ben bruce and their minions. Look at the youth crying online to defend themselves, many were being flow by helicopter to private resort all over the country.that taphas dried up and that's the reason you see many

Of them online pouring vituperations on PMB .
I once told friends that if PMB win election,few banks will be in trouble,Buhari won and it didn't take long it started happening. Many of the banks heads used depositors monies to sponsor politicians/campaign when

Investigation started many tried to not only hide their shady deals but shield customers under investigation. Why won't these people hate PMB? When I say many of these banks aren't set up for the common man,people wonder at what i mean. A very good example: Write a proposals

Fora good business deals and take to the banks and 90% of the time you won't get funding but let APC and PDP finish primaries and produce governorship candidates,both candidates can work into some banks and get as much as #500m each for campaigns,banks didn't care then.

What is the worst that could happen is the worst case scenario,one candidate would lose and whoever wins bring enough investment.

That would cover the #1bn both took, that was the normal conventional banking until PMB came on board. If assume SGBN bank sponsors Uche and he wins,he would make sure almost all state account go to SGBN bank. Some governors went as far as making their account officers

Commissioners as a way of compensation. Some banks relationship managers would go to leave close to election period to join their clients on the campaign train,once the client wins, they resigned their appointment with the bank and because of political appointees. Why would

A bank staff do that if the bank hasn't invested heavily on that politician? Suddenly PMB appears with his BVN and TSA compliance,Banks now see SFU officers like regular staff as they are monitoring everything,EFCC under Magu has also become a pain in their neck

Because money can't just disappear like that anymore. Who do they blame Buhari, 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. Magu and his eagle boys are waiting to pounce. When many of these politicians or billionaires tell you that everything is not doing well, look closely at the person because many of them own some of these 5-star hotels,some of the rooms cost 300k per night

Folks use to pay for a year for a suite upfront and many of those were folks involved in shady business like bunkering and laundering. But today things are changing and their ways of excess is being tamed.

TSA has collapsed most govt account littered all over our banks. Many of such account were set up just to steal funds and launder govt monies. Nigeria as a whole has never favored the common man,but this is the first time we are witnessing both elites and masses complaining

It then means something is being done to halt their crooked and fraudulent ways of life.
We got here because we refuse to plant yesterday and we rather sowed fraudulent activities.

We must all rise up in unison and say no to few corrupt folks enjoying the wealth of Nigeria while majority wallow in poverty. ...

Like my Oga @JeSuisNaija said last week,we must not miss it in 2019 else our children will bear the consequences.

GOOD NIGHT

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