FOLLOWING HSBC’s prediction that the second tenure for President Muhammadu Buhari will stagnate the nation’s economy, the Presidency has hit back, accusing the leading global bank of laundering $100 million for late dictator, General Sani Abacha.
The Presidency has therefore asked the bank to refund Nigeria’s stolen assets rather than engage in what it termed doomsday prophecy.
A statement issued by Garba Shehu, Senior Special Adviser to the President, (Media & Publicity) in Abuja on Saturday said: “Our investigation agencies believe that HSBC had laundered more than USD 100,000,000 for the late General Sani Abacha in Jersey, Paris, London and Geneva.
“Among these accounts on the records are: AC: S-104460 HSBC Fund Admin Ltd. Jersey ($12,000,000); AC 37060762 HSBC Life (Europe), U.K ($20,000,000) and AC: 38175076 HSBC Bank Plc. U.K ($1,600,000).
“The bank is also suspected in the laundering of proceeds of corruption involving more than 50 other Nigerians, including a serving Senator as earlier indicated.”
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The Presidency said it wished to make clear to all Nigerians, and particularly HSBC that what killed Nigeria’s economy in the past was “the unbridled looting of state resources by leaders, the type which was actively supported by HSBC.”
The statement further said: “A bank that soiled its hand with ‘’millions of US dollars yet-to-be-recovered Abacha loot,’ and continued until a few months ago to shield the stolen funds of one of the leaders of the Nigerian Senate has no moral right whatsoever to project that a ‘second term for Mr Buhari raises the risk of limited economic progress and further fiscal deterioration.’
“Rather, we ask them to heed President Buhari’s constant refrain: return our stolen assets, then see how well we will do.
“From the facts available to our investigation agencies, HSBC’s put down on President Buhari is no more than an expression of frustration over the administration’s measures put in place which has abolished grand corruption, the type which this bank thrives on in many countries.
“They may also just be out to discredit the President out of the fear of sanctions and fines following the national assets that are stolen.
“With the coming of President Buhari, it is not a secret that corruption, corrupt individuals, banks and other corporate entities that aided corrupt practices are under investigation for various offences.
“For many of them, including their friends in the media, they would rather have President Buhari out of their way, for business as usual to return.”
Citing a book, “Secrecy World: Inside the Panama Papers Investigation,” published in 2017, the Presidency pointed out that Jack Bernstein told the story of global money laundering highlighting the unenviable place of the HSBC.
The statement stated: “This is a bank that states and federal authorities in the U.S. forced to pay $1.92 billion to settle charges of money laundering; fined $1.2 billion in Hong Kong for “systemic deficiencies” in bond sales and was made to pay $100 million in currency rigging settlement as reported by The Telegraph of 18th January, 2018.”
Dem don’t comeooo
Where is the money now, we have heard too much story about Abacha stolen money
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Have you forgotten that Buhari was part and parcel of Sani Abacha’s administration. So if any money was laundered, Buhari was a part of it
is it the same abacha buhari said did not steal any money or another? oh i see u dont like HSBC’s report.
It seems Abacha has remembered us again??
How much are they laundering for Buhari?
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liar presidency
Buhari said abacha didn’t steel from Nigeria. Lifeless robot should just close his fulani mouth
Abacha is buhari’s mentor, draw your conclusions
Had it been that the HSBC bank had praised buharis government, you will see them praising the bank to high heaven. but now that the reverse is the case, the bank will be looters bank. haaaaaaaaaaaaa buhari and his cabals are just funny set of people.
HSBC are agents of looters that have earned lots of money and staying in business at the expense of our national interest. They should be banned from doing business in Nigeria and African countries. One wonders how banks makes so much profit when they give loans for business.
The government or presidency should use it executive power to close or fine three times the amount of looted funds linked to any bank or business (HSBC) including criminal charges for company officials.
Everybody is a thief to a thief. 3 things dishonest people hate are:
A. Calling them criminals
B. Exposing them and
C. Catching them redhanded
They will do anything to avoid or confuse the innocent heart. It is the character of hardened criminals. These are the rogues led by Buhari in Aso rock today.
PMB said Abacha never looted. Which $100m are you now looking for?
Ted Seki taqiyya
But I heard some ppl saying that Buhari said Abacha did not loot,why then is d presidency calling this 1 laundering?
Abacha the APC Saint?