HSBC is synonymous with money laundering - EFCC

HSBC is synonymous with money laundering - EFCC

- The EFCC says it would not stop until every penny stolen from Nigeria's coffers is returned

- It cautioned HSBC over a statement it made, predicting that Buhari’s second tenure would stunt Nigeria’s economy

- The commission said HSBC is synonymous with money laundering

The Economic and Financial Crimes Commission (EFCC) says it is ready to repatriate all stolen money from Nigeria's coffers, stressing that it won't stop until every penny belonging to the country is returned.

The anti-graft agency was reacting to a statement made by global giant bank, HSBC, predicting that President Muhammadu Buhari’s second tenure would stunt Nigeria’s economy.

The presidency had in a statement by the senior special assistant to the president on media and publicity, Malam Garba Shehu, cautioned the bank against doomsday prophecy and accused it of aiding corruption in the country. The presidency also tasked HSBC to return Nigeria’s looted fund in its care.

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Apparently agreeing with Shehu's statement, the EFCC via its social media pages, said: “HSBC is synonymous with money laundering and has paid billions of US Dollars in fines across the world.”

“In Nigeria, the bank laundered more than $100 million for the late dictator, late Gen Sani Abacha in Jersey, Paris, London, Switzerland and Geneva. The bank is also involved with laundering proceeds of corruption for over 50 Nigerians including a Nigerian serving senator.

“Part of Abacha assets yet to be recovered are: $12 million in HSBC Fund Admin Ltd with account number S-104460 in Jersey; $20 million in HSBC Life (Europe) with account number 37060762 in U.K and $1. 6 million in HSBC Bank plc with account number 38175076 in U. K.

“We shall not rest on our oars until every penny belonging to the FRN is repatriated to Nigeria as to improve the lives of the people."

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Meanwhile, the PDP says with the emergence of President Muhammadu Buhari as its sole presidential candidate, “the All Progressives Congress (APC) is now irredeemably doomed for a crushing defeat in the 2019 general elections.”

This was contained in a statement sent to journalists by the party's national publicity secretary, Kola Ologbodiyan, on Thursday, September 13.

The party said: “President Buhari’s fear to contest an elective presidential primary, for which he and a few APC leaders scared away other presidential contestants within their party with threats and high nomination form fees, ended up ruining APC’s chance of fielding a good candidate for the election.”

Senator Kwankwaso Rabiu announces his Presidential Bid (Election 2019) on TV


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