On Friday 0ctober 26, the Atiku Presidential Campaign Organisation released a statement claiming the candidate of the Peoples Democratic Party (PDP) in next February’s presidential election, Atiku Abubakar, was endorsed by the influential London-based Economist magazine.
Sunday 11 November 2018
WRONG PRESIDENTIAL AND VICE-PRESIDENTIAL CANDIDATES BY THE PDP.
It is so obvious that PDP is coming out for bench-warming in the 2019 Presidential Election.
It is glaring that the 2019 Presidential Election shall be a walkover for President Mohammadu Buhari. I pray the Peoples Democratic Party (PDP) gets a marketable Presidential Candidate for 2023 Presidential Candidate.
The emergence of Peter Obi who is a Tribal Bigot and Rabble-rouser as the Vice-Presidential Candidate was the last straw that broke the camel's back to the Peoples Democratic Party.
The Unpatriotic and Cruel Acts/Statements of Peter Obi:
-In 2014, Peter Obi as the Governor of Anambra State ordered the unlawful arrest and illegal detention of Mallam Nasiru El-Rufai in Anambra.
-In 2014, Peter Obi aligned the images of Chris Ngige with that of Bola Tinubu and Obafemi Awolowo, he made a nasty public utterances that Ngige has joined the Yoruba people who are the enemies of the Igbos to work against the Igbos race.
- Peter Obi while infringing Mallam Nasiru El-Rufai's of Fundamental Humans Rights said “Anambra is not Katsina”. What a nasty comment from a tribal bigot who now wants to become the Vice President of the Federal Republic of Nigeria?
- Under Peter Obi's watch as the Governor of Anambra State, a mosque was razed and worshippers narrowly escaped death. Those who committed the arson must have had the confidence to do so knowing fully well that Peter Obi will be pleased with the sacrilege.
- Peter Obi shamelessly lied against a Reverend gentleman, Hon. Babatunde Fashola that the latter deported Igbos from Lagos. Peter Obi made and heated the unfair propaganda just to whip up sentiments from the Southeasterners.
- Under the watch of Peter Obi, the business premises of Hausa/Fulani peoples were destroyed in Onitsha. Peter Obi never showed any concern probably because he ordered the action.
- Peter Obi mandated Northerners in Anambra State to get Identity Cards - a deliberate act that was just to stigmatize the Northerners in Anambra State.
- Peter Obi took it upon himself as a critical assignment, going to different churches in the Southeast, telling worshippers that APC is a Bokoharam Party, Buhari’s sole agenda in his quest to become the Nigerian President was to Islamize Nigerians.
- to create extreme animosity and resentment against the Hausa, Fulani and Yoruba peoples, in 2014, Peter Obi drew the images of the Igbos that lost their lives in the 1670-1970 Civil War at the Limca Roundabout in Onitsha. Those images are still there.
Today, the shameless Tribal Bigot known as 'Saint' Peter Obi wants to become the Vice-President of Nigeria, running with a man (Atiku) who is from Fulani tribe that he (Obi) abhors with extreme passion.
HOW TO CURB ILLICIT FINANCIAL FLOWS—PRESIDENT BUHARI
President Muhammadu Buhari Sunday in Paris, France, called for stringent actions against perpetrators of illicit financial flows, including crackdown on safe heavens, warning that continuous impunity will encourage more pilfering of countries’ resources to the detriment of poor and vulnerable populace.
Speaking at the first edition of the Paris Peace Forum, held on the sidelines of the Centenary of Armistice Day, President Buhari said Nigeria had strengthened its laws and institutions to fight corruption, fast-track recovery of stolen assets and punish offenders, urging more commitment from governments and international institutions.
The President delivered his statement on “Illicit Financial Flows (Iffs) and Corruption: The Challenge of Global Governance’’ during the event, attended by about 70 world leaders and governments.
“We must crack down on safe havens for corrupt assets. I also advocate sanctions by professional bodies against transactional middlemen (lawyers, bankers, brokers, public officials, etc.) who facilitate Illicit Financial Flows.
“I would like to reiterate that the Government of Nigeria remains open and is ever willing to continue to identify and share experiences and strategies to give life to the ideas that will lead to winning the fight against corruption,’’ the President said.
He noted that illicit financial flows pose a risk to the realisation of the Sustainable Development Goals (SDGs) as many countries grapple with the challenge of gathering resources to improve their Human Development Index, while a few privileged individuals continue to explore the weaknesses in financial systems.
“Our experience in Nigeria is that financial crimes, such as corruption and fraudulent activities, generate enormous unlawful profits which often prove so lucrative that the threat of a jail term is not sufficient to deter perpetrators.
“A more powerful deterrent is to ensure that profits and assets generated from illicit financial flows and corruption are recovered and returned to countries of origin.
“This is not to under-estimate the value of strong institutions. It only indicates that asset recovery represents significant deterrence compared to the traditional focus on obtaining conviction by the law enforcement agencies of the countries of origin,’’ President Buhari said.
The President urged world leaders and global institutions to remain resolute on the Global Declaration Against Corruption made in London in 2016, which encapsulates the collective commitment to the principles of Open Government Partnership, especially the National Action Plans to actualize beneficial ownership transparency and enhance the capacity of Financial Intelligence Units (FIUs).
He said the Independent Reporting Mechanisms and support for the activities of the Global Forum on Transparency and Exchange of Information for Tax Purposes should be reinforced.
“As we take stock of the strengths and weaknesses of domestic, regional and international mechanisms against Illicit Financial Flows, I seize this opportunity to recall the Global Declaration Against Corruption made in London in 2016 and our commitment thereto,’’ he added.
President Buhari said tremendous progress had been achieved through the enactment of global instruments, noting that some fundamental technical issues remain unresolved.
“These revolve around the formulation of policy and regulatory frameworks that cut across different jurisdictions. We must not lose sight of the role played by secret companies, banks and law firms, all too often based in developed economies and their related offshore centres.
“Recent studies reveal that flaws in the global financial system enable corrupt individuals to hide details of their financial dealings under the noses of governments and law enforcement agencies. This underscores the need to urgently address the issue of Mutual Legal Assistance, as well as continental legal frameworks, in the context of safe havens for illicit transfers,’’ he said.
He disclosed that the Whistle-Blowing policy had facilitated recovery of billions of naira from corrupt persons, which had been redirected to the development of critical infrastructure and programmes that will benefit all Nigerians and realisation of the SDGs.
At the continental level, the President said the African Union had bestowed on him the honour to champion the fight against corruption, which would be focused on strengthening international cooperation on asset tracing, recovery and repatriation, and enhancing cooperation between the African Union and the United Nations’ anti-corruption monitoring mechanisms.
Femi Adesina
Special Adviser to the President
(Media & Publicity)
November 11, 2018
ALL PASSENGERS SHOULD SUBMIT THEMSELVES TO CHECKS AT OUR AIRPORTS - MINISTER HADI SIRIKA.
This is a mischievous attempt to grab the headlines. Nigerians need to know that one of the resolutions of the Atiku team at their recently-concluded, opulently-held Dubai retreat was to embark on scaremongering. This is one of such.
For the records, all incoming passengers on international flights go through customs, Immìgration, health and security screening.
Where the aircraft is using the private, charter wing, as the PDP Candidate did, such arrivals are met by a team of the Immìgration, customs and other security agencies. They go to the arriving aircraft as a team. The airport authorities confirm that this is a routine process, applying to all international arrivals, including the minister unless the passenger is the President of Nigeria. The President, the Vice President and passengers aboard planes on the Presidential air fleet use the Presidential wing of the airport.
It is also important to state that even in the Presidential Wing of the airport the President of Nigeria uses, there is the presence of Immìgration and other security officials who must stamp his or her passport on arrival.
By standard procedure, all aircraft on international arrivals must first of all park at the international wing of the aircraft. They can move to the domestic terminal only upon the completion of the arrival processes.
While it is true that the Task Force on Currency at the airport did the routine action of checking the former Vice President’s travel bag, he was accorded full respect as a senior citizen.
These checks are mandatory, conventional, internationally applied and routine. No one is excused from them under our laws. These checks are carried out on all international arrivals and President Buhari does not get involved in them.
Law-abiding citizens are encouraged to respect the laws of the country and our VIPs should not seek to be treated over and above the citizens they wish to serve.
Senator Hadi Sirika,
Hon. Minister of State,
Aviation
November 11, 2018
Wednesday 7 November 2018
FACT-CHECK: Did the Economist Magazine really endorse Atiku?
In the statement titled: “The Economist Vindicates Atiku Abubakar,” his campaign organisation said the ‘endorsement’ by the Economist, “puts to lies the recent ridiculous claims made by Alhaji Lai Mohammed, that the international media is askance of the candidature of Mr. Abubakar.”
The statement was referring to a claim by the Minister of Information, Lai Mohammed, that during his recent engagement with journalists from international media organisations such as Reuters, Aljazeera, and the Economist, he was asked why the PDP candidate emerged despite the government’s claim to fighting corruption.
“They asked me: How can you claim to have succeeded in waging war against corruption when one of the major contestants in the 2019 general elections is actually a man with stupendous wealth but cannot explain the source of his wealth?
“That baffled me a lot, because it means that we are still being perceived as a country where corruption thrives,” Mr. Mohammed said.
The Atiku campaign claimed ‘the latest endorsement by the Economist’, ‘the second in two months’, is an endorsement of its candidate’s superior policies.
“An endorsement based on the clarity of vision and the detailed policies of the PDP’s candidate when compared to the vague and empty promises of the incumbent All Progressives Congress’ administration of President Muhammadu Buhari.
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“As the Economist rightly states, the issues in 2019 are ‘popular frustration over the rise in joblessness and poverty (two of the biggest voter concerns) on Mr. Buhari’s watch, as well as growing insecurity in central Nigeria,” the Atiku Campaign Organisation wrote.
When contacted, Paul Ibe, a spokesperson for Mr. Abubakar, reiterated the claim of the Atiku Presidential Campaign Organisation.
“It is all a matter of language, he told PREMIUM TIMES by telephone.
“The Economist endorsed us,” he said. “That is not the only endorsement we have received. The Atiku candidacy is getting more and more viable every day. I just told you. I am restating it. That’s an endorsement.”
But did the Economist magazine endorse Mr. Abubakar as claimed by his campaign organisation?
Here are the facts:
First, contrary to the claim of the Atiku Campaign Organisation, the reports it cited as containing the endorsements were not written by the Economist Magazine. Rather they were written by a sister company of the newspaper, the Economist Intelligence Unit (EIU).
The EIU is the research and analysis division of the Economist Group, the parent company of the Economist magazine.
Both divisions are independent of each other. While the Economist magazine specialises in international business and world affairs news, the EIU provides forecasting and advisory services through research and analysis.
The EIU publishes monthly country economic forecast, risk services and industrial reports. It was the EIU reports on Nigeria in July and October that the Atiku Campaign organisation was referring to and not a report written by the Economist magazine, as it wrongly claimed.
Endorsement?
As part of its editorial policy, the Economist endorses candidates and political parties ahead of major elections. The magazine, which was first published in September 1843 originally declined to take sides in elections on the ground that “a journal that is jealous of its reputation for independence would, in any event, be foolish to compromise it by openly taking sides in a general election.”
But in the run-up to the 1955 United Kingdom’s parliamentary election, it dropped its neutrality in election matters and endorsed Conservative candidate, Eden Anthony, arguing that “[I]n the election of 1955 an elector who tries to reach his conclusion by reason based on observation has no choice. He may not like voting Tory. But there is nothing else he can do.”
The magazine has since endorsed several prime ministerial candidates in the UK, American presidential candidates and candidates in other elections elsewhere.
Perhaps the magazine’s endorsement that many Nigerians will quickly remember was its February 2015 endorsement of Muhammadu Buhari, then the candidate of the opposition All Progressives Congress (APC).
After condemning the then incumbent, Goodluck Jonathan, and Mr Buhari in almost equal measure, the newspaper grudgingly endorsed the latter for president saying: “We are relieved not to have a vote in this election. But were we offered one we would—with a heavy heart—choose Mr Buhari.”
President Buhari and former President Goodluck Jonathan
However, unlike the Economist magazine, the EIU is not known to have ever endorsed candidates running for political offices. It merely analyses prevailing realities and trends in countries and forecasts possible political or economic outcomes.
And that was clearly what it did in its July and October country reports on Nigeria. In its October report on Nigeria, which the Atiku Campaign organisation cited as evidence of endorsement, the EIU clearly drew a parallel between the rising insecurity and what it termed “economic difficulty” and the outcome of next year’s presidential election.
“The Economist Intelligence Unit forecasts ongoing severe outbreaks of instability, given slow progress on tackling numerous security and societal challenges at a time of economic difficulty,” the report said. “With tight national elections expected in 2019, the ruling All Progressives Congress (APC) will be focused on intra-party politics and security concerns will be sidelined. The election period itself will be a time of high risk; as a recent by-election in Osun state demonstrated, small-scale violence at the polls is highly likely, as is disputation of the results.”
The EIU therefore predicted that Mr Atiku would win the coming election. But this is not an endorsement. It is a prediction that flowed from the internal analysis by EIU personnel.
“Our baseline forecast is that the president, Muhammadu Buhari, will lose power, and that the next government will be led by Atiku Abubakar of the People’s Democratic Party (PDP, the main opposition party), but instability will remain an insoluble challenge.”
The organisation then explained that in the event of Mr Atiku’s victory not all newly defected members of the PDP will be reward with appointments.
The EIU explained that the reason it predicted victory for Mr. Atiku and the PDP are believed to be more popular in the south of the country while the vote from the north would be split between Mr. Buhari and Mr. Atiku because both top contenders are from the north of the country.
“Mr Abubakar’s pledge is to reinvigorate the economy with pro-market reforms. Both candidates are from northern Nigeria, where Mr. Buhari’s support base lies, presaging a fierce contest there. With the vote likely to be split in the north, Mr Abubakar will find it easier to garner support from the country’s south, which has traditionally been a safe haven for the PDP. This gives Mr Abubakar an edge, as does popular frustration over the rise in joblessness and poverty (two of the biggest voter concerns) on Mr Buhari’s watch, as well as growing insecurity in central Nigeria.
“Nonetheless, strong incumbency advantages in Nigeria imply that it will be a very tight race. If Mr Abubakar loses–a distinct downside risk to our forecast–there may be a rejection of the result by the PDP, which is convinced the election will be rigged. In this scenario, a state of national paralysis could arise with severe national security implications,” the EIU wrote.
So, did the Economist Magazine endorse Mr Atiku for President as claimed by his campaign organisation?
VERDICT: The claim is false
===============================
READ THE FALSE CLAIM BY THE ATIKU CAMPAIGN BELOW
The Economist Vindicates Atiku Abubakar
The latest endorsement of the presidential candidate of the Peoples Democratic Party, His Excellency, Atiku Abubakar, by the Economist Magazine, puts to lies the recent ridiculous claims made by Alhaji Lai Mohammed, that the international media is askance of the candidature of Mr. Abubakar.
This is the second endorsement in as many months by the world’s number one economic and policy magazine. An endorsement based on the clarity of vision and the detailed policies of the PDP’s candidate when compared to the vague and empty promises of the incumbent All Progressive Congress administration of President Muhammadu Buhari.
As the Economist rightly states, the issues in 2019 are “popular frustration over the rise in joblessness and poverty (two of the biggest voter concerns) on Mr. Buhari’s watch, as well as growing insecurity in central Nigeria.”
No other candidate has the capacity to address these challenges, like Alhaji Atiku Abubakar, under whose watch as Chairman of the National Council on Privatisation, Nigeria had her highest growth in job numbers.
Indeed, His Excellency, Atiku Abubakar, is poised to translate the significant success he has made in his private business empire to the public sector. This anticipation is responsible for the momentum he now enjoys in all the six geopolitical zones of Nigeria.
For the past one year, Mr. Abubakar has traversed the length and breadth of Nigeria, selling his plans, vision and policies to Nigerians. Unfortunately, rather than do the same, the All Progressive Congress has focused on negative campaigning by slandering Mr. Abubakar’s past.
We are not surprised by their actions. When a man’s future intimidates people, they focus on lying about his past because they cannot compete in the present. However, we thank The Economist for proving that no matter how far and fast falsehood has traveled, it must eventually be overtaken by truth.
For now, we remind Nigerians that Atiku means JOBS. And by providing the atmosphere for Jobs, Opportunity, Being United (JOBS), Atiku Abubakar is ready to Get Nigeria Working Again.
Atiku Presidential Campaign Organization
Plot 120, Ademola Adetokunbo Crescent,
Wuse II, Abuja.
HOW SAFE ARE YOU WITH YOUR PERSONAL STAFF?
HOW SAFE
How safe are you with that nanny, maid, steward, cook, security guards, driver, lesson teacher, etc, whether at home or in the office?
We are all shouting "Security! Security!! Security"!!! but are we not all guilty?
1) All the above mentioned people working with us, do we have their guarantors?
Do you ever visit their referees even after a year or two of their engagement?
2) Do we ever revisit their home address provided or call to see if there has been a change in address or phone numbers?
3) Did you register the maid, drivers, nannies, etc, you keep in your homes with the relevant agencies such as the Police, Safety Commission or Neighbourhood Vigilante groups?
Do you have their photographs?
4) Do you attend your Estate/Street meetings or are you so reserved that you have no relationship with your neighbors and too busy to attend meetings?
5) Do you have a What'sApp group for residents only for emergency messages such as when a neighbour is being attacked or robbed, a fire incident, a neighbour is critically ill and needs urgent help and other emergencies?
6) Do you know that your cook, nanny, driver, steward, maid, day care center handlers or lesson teacher, etc, could be HIV positive?
He/She can have Hepatitis B or even tuberculosis?
What will it cost you to do a medical test for them before you employ them?
It is your life that is in danger if you engage a sick victim without knowing their medical history.
7) That househelp you get yearly from an agent. Have u ever bothered to check where the agent lives or whatever job he does?
Do u know the Househelp he gives could be a thief. Hired killer or kidnapper?
The housegirls/ nannies you allow to sleep in your childrens room could be an agent of the devil.
They could be criminals
8) Do you know that your driver could be a wanted person by the police in another state for theft or kidnapping?
Have you done a check on him with the Police and do you have a 5x7 photograph of him?
Never allow your daughters get too familiar with drivers.
Especially when they are below 16. They can be raped by these drivers.
Drivers Must never be allowed to take children to school alone.
There must always be a female adult in the car.
Do you know that your driver could be hypertensive, have Hbp, poor eye sight or he could have an enlarged heart and not fit to drive?
9) Is your security guard a citizen or a foreigner from Niger, Chad and Benin Republic? How did/can you confirm that? If he is a foreigner, is he
Registered by the requisite organisation and eligible to work here?
10) Never talk about money transactions or cost of your jewelleries or valuables in the presence of your domestic staff.
11) Never allow Househelp tidy your room when you are not there. It is a time they search your room to know where valuable things are kept and waiting for the right time to. Operate and run away.
12). Most theft usually have in-house informants. Please note that the longer your domestic staff work with you, the more dangerous they can be.
13) Are u aware that your domestic staff monitor your movement?, Do you also do same?. It is good to monitor them. Go home or office when they least expect u.
14) The HEAD of the family must always ensure that all gates leading into your house is CHECKED and LOCKED by him every night.
15). Criminal are deadly, They wait for a time to strike when you least expect and they are hardly ever thought to be the suspect.
Don't be a victim.
Do all the necessary checks immediately.
NEVER EVER GET DOMESTIC STAFF AND DRIVERS. FROM. THE SAME SOURCE
IT IS DEADLY.
Get a CCTV installed into your house and monitor from your phones.
Save your life and that of your loved ones.
Crime rate is on the increase daily.
Security and safety is everyone's business including you 👈and I 👉
REMEMBER, YOU ARE NUMBER ONE SECURITY TO YOURSELF!!!
If you Find this relevant and useful Pls pass to friends and family members.
How safe are you with that nanny, maid, steward, cook, security guards, driver, lesson teacher, etc, whether at home or in the office?
We are all shouting "Security! Security!! Security"!!! but are we not all guilty?
1) All the above mentioned people working with us, do we have their guarantors?
Do you ever visit their referees even after a year or two of their engagement?
2) Do we ever revisit their home address provided or call to see if there has been a change in address or phone numbers?
3) Did you register the maid, drivers, nannies, etc, you keep in your homes with the relevant agencies such as the Police, Safety Commission or Neighbourhood Vigilante groups?
Do you have their photographs?
4) Do you attend your Estate/Street meetings or are you so reserved that you have no relationship with your neighbors and too busy to attend meetings?
5) Do you have a What'sApp group for residents only for emergency messages such as when a neighbour is being attacked or robbed, a fire incident, a neighbour is critically ill and needs urgent help and other emergencies?
6) Do you know that your cook, nanny, driver, steward, maid, day care center handlers or lesson teacher, etc, could be HIV positive?
He/She can have Hepatitis B or even tuberculosis?
What will it cost you to do a medical test for them before you employ them?
It is your life that is in danger if you engage a sick victim without knowing their medical history.
7) That househelp you get yearly from an agent. Have u ever bothered to check where the agent lives or whatever job he does?
Do u know the Househelp he gives could be a thief. Hired killer or kidnapper?
The housegirls/ nannies you allow to sleep in your childrens room could be an agent of the devil.
They could be criminals
8) Do you know that your driver could be a wanted person by the police in another state for theft or kidnapping?
Have you done a check on him with the Police and do you have a 5x7 photograph of him?
Never allow your daughters get too familiar with drivers.
Especially when they are below 16. They can be raped by these drivers.
Drivers Must never be allowed to take children to school alone.
There must always be a female adult in the car.
Do you know that your driver could be hypertensive, have Hbp, poor eye sight or he could have an enlarged heart and not fit to drive?
9) Is your security guard a citizen or a foreigner from Niger, Chad and Benin Republic? How did/can you confirm that? If he is a foreigner, is he
Registered by the requisite organisation and eligible to work here?
10) Never talk about money transactions or cost of your jewelleries or valuables in the presence of your domestic staff.
11) Never allow Househelp tidy your room when you are not there. It is a time they search your room to know where valuable things are kept and waiting for the right time to. Operate and run away.
12). Most theft usually have in-house informants. Please note that the longer your domestic staff work with you, the more dangerous they can be.
13) Are u aware that your domestic staff monitor your movement?, Do you also do same?. It is good to monitor them. Go home or office when they least expect u.
14) The HEAD of the family must always ensure that all gates leading into your house is CHECKED and LOCKED by him every night.
15). Criminal are deadly, They wait for a time to strike when you least expect and they are hardly ever thought to be the suspect.
Don't be a victim.
Do all the necessary checks immediately.
NEVER EVER GET DOMESTIC STAFF AND DRIVERS. FROM. THE SAME SOURCE
IT IS DEADLY.
Get a CCTV installed into your house and monitor from your phones.
Save your life and that of your loved ones.
Crime rate is on the increase daily.
Security and safety is everyone's business including you 👈and I 👉
REMEMBER, YOU ARE NUMBER ONE SECURITY TO YOURSELF!!!
If you Find this relevant and useful Pls pass to friends and family members.
Tuesday 6 November 2018
UK banks 'aided Nigeria corruption'
 |
| HSBC has described Global Witness's allegations as "misguided" [EPA] |
High street banks in the United Kingdom could have helped fuel corruption in Nigeria by accepting millions of dollars in deposits from dubious politicians in the west African nation, an international corruption watchdog said.
In a 40 page report released on Sunday, Global Witness said that five leading banks have failed to adequately investigate the source of tens of millions of dollars taken from two Nigerian governors accused of corruption.
"Banks are quick to penalise ordinary customers for minor infractions but seem to be less concerned about dirty money passing through their accounts," Robert Palmer, a campaigner at Global Witness, wrote on the group's website.
In a 40 page report released on Sunday, Global Witness said that five leading banks have failed to adequately investigate the source of tens of millions of dollars taken from two Nigerian governors accused of corruption.
"Banks are quick to penalise ordinary customers for minor infractions but seem to be less concerned about dirty money passing through their accounts," Robert Palmer, a campaigner at Global Witness, wrote on the group's website.
"Large scale corruption is simply not possible without a bank willing to process payments from dodgy sources, or hold accounts for corrupt politicians."
Global Witness acknowledged that in accepting the money, Barclays, NatWest, Royal Bank of Scotland (RBS) and HSBC, as well as Switzerland's UBS, might not have broken the law, but noted that the Financial Services Authority (FSA) must do more to prevent money laundering through British banks.
"The FSA needs to do much more to prevent banks from facilitating corruption. As yet, no British bank has been publicly fined or even named by the regulators for taking corrupt funds, whether willingly or through negligence," Global Witness said in the report.
"The FSA needs to do much more to prevent banks from facilitating corruption. As yet, no British bank has been publicly fined or even named by the regulators for taking corrupt funds, whether willingly or through negligence," Global Witness said in the report.
"This is in stark contrast to the United States, where banks have been fined hundreds of millions of dollars for handling dirty money."
'Deeply disappointed'
HSBC dismissed the allegations in the "International Thief Thief" report, saying that it had taken the lead in tackling holes in the financial system, particularly regarding funds from "politically exposed persons" (PEPs) deemed to pose a higher money laundering risk.
"As a bank that has been at the very forefront of developing global PEP guidance over the last decade, we are deeply disappointed with these misguided allegations," a spokesman for HSBC told the Reuters news agency.
'Deeply disappointed'
HSBC dismissed the allegations in the "International Thief Thief" report, saying that it had taken the lead in tackling holes in the financial system, particularly regarding funds from "politically exposed persons" (PEPs) deemed to pose a higher money laundering risk.
"As a bank that has been at the very forefront of developing global PEP guidance over the last decade, we are deeply disappointed with these misguided allegations," a spokesman for HSBC told the Reuters news agency.
Advertisement
"Rest assured, rigorous and robust compliance procedures were followed diligently. To ignore this is to ignore the facts."
Barclays, HSBC and UBS are all members of the Wolfsberg Group, an international body set up in 2000 to try to improve global anti-money laundering procedures.
Global Witness said its findings were based on court documents from cases the Nigerian government has brought in London in an attempt to get funds returned that it said were stolen by two former state governors: Diepreye Alamieyeseigha of Bayelsa state and Joshua Dariye of Plateau state.
Alamieyeseigha was accused of corruption after he was caught with about $1.6m in cash at his London home. He was briefly jailed in Nigeria after pleading guilty to embezzlement and money laundering charges two years later.
Barclays, HSBC and UBS are all members of the Wolfsberg Group, an international body set up in 2000 to try to improve global anti-money laundering procedures.
Global Witness said its findings were based on court documents from cases the Nigerian government has brought in London in an attempt to get funds returned that it said were stolen by two former state governors: Diepreye Alamieyeseigha of Bayelsa state and Joshua Dariye of Plateau state.
Alamieyeseigha was accused of corruption after he was caught with about $1.6m in cash at his London home. He was briefly jailed in Nigeria after pleading guilty to embezzlement and money laundering charges two years later.
Dariye was arrested in 2004 in London and was found to have purchased properties worth millions of dollars even though his legitimate earnings amounted to the equivalent of $63,500 a year.
He returned to Nigeria, where the anti-corruption agency has accused him of looting public funds. He has denied any wrongdoing.
Corruption ranking
The report did not provide any evidence that the funds accepted by the banks were the direct proceeds of any crime.
Africa's most populous nation is regularly ranked one of the most corrupt countries in the world. It ranked 130th out 180 nations in Transparency International's list of country's perceived as most transparent in 2009.
Corruption ranking
The report did not provide any evidence that the funds accepted by the banks were the direct proceeds of any crime.
Africa's most populous nation is regularly ranked one of the most corrupt countries in the world. It ranked 130th out 180 nations in Transparency International's list of country's perceived as most transparent in 2009.
Most of its 150 million people survive on $2 a day or less, yet the country is one of the world's top champagne importers and its wealthiest residents are among the continent's richest.
Nuhu Ribadu, the former head of its anti-corruption agency, has estimated that corruption and mismanagement swallow up about 40 per cent of Nigeria's annual oil income.
"Without access to the international financial system, it would be much harder for corrupt politicians from the developing world to loot their treasuries or accept bribes," Global Witness said in its report.
Sunday 4 November 2018
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 à 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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