The Central Bank of Nigeria (CBN) has revealed that two global banks – HSBC and UBS – have closed their offices in Nigeria, even as it added that foreign investment had fallen sharply from a year ago.
Naira Reacts As CBN Injects Fresh $210m Into Forex Market

According to a report made available on Friday, November 2, the apex bank said foreign direct investment in Nigeria fell to N379.84bn ($1.2bn) in the first half of the year from N532.63bn ($1.7bn) a year earlier.
Reuters reports that It however did not give reasons for the banks’ closure.
The central bank said the outlook for the Nigerian economy in the second half was “optimistic” given higher oil prices and production but rising foreign debts and uncertainties surrounding the 2019 presidential elections were drawbacks.
Investor confidence in the country has been shaken since the central bank in August ordered MTN to bring back $8.1bn to the country, part of the profits the South African telecoms firm sent abroad.
CBN: Forex Ban On Rice, Toothpicks, 39 Items Lifted Nigeria Out Of Recession

A HSBC research note dated July 18 said a second President Muhammadu Buhari term “raises the risk of limited economic progress and further fiscal deterioration, prolonging the stagnation of his first term, particularly if there is no move towards completing reform of the exchange rate system or fiscal adjustments that diversify government revenues away from oil.”
The CBN also said three lenders failed to meet its minimum liquidity ratio of 30 per cent, without naming them.
It added that non-performing loans had dropped to 12.4 per cent as of June 2018 from 15 per cent a year ago, still a long way above its five per cent threshold.
Government Agencies Barred As CBN Issues New Guidelines On Bureau De Change

“To further consolidate on the improvement, the Central Bank of Nigeria directed banks to intensify efforts at debt recovery, realisation of collateral for lost facilities and strengthening their risk management processes,” it said in the report.

Source:https://graygist.com/2019/12/10/shocking-two-global-banks-dump-nigeria/

Op, Is it Buhari or Nigeria that is in problem?

In trouble indeed.

So that is how buhari lands in trouble?

Make una continue dey put buhari in trouble o.

See them — always looking for dead news to resuscitate. A news of over a year ago.

Since we are closing boarder, we do not need foreigners and their goods in Nigeria, we only need their loan. so let made in Niger bank griw

Since we are closing boarder, we do not need foreigners and their goods in Nigeria, we only need their loan. so let made in Niger bank grow

Next level things God punish all those who brought this plague upon Nigeria

Some mumu will still defend this

you're struggling to rule, when you know that, you have nothing to offer, that's why Nigeria is in a mess now

When democracy has been ethnocentric, this is what your get

Let me put it out now

By February/March in 2020 , if the border remains closed and the interest rate (MPR and TB rate dicotomy)remains the same,
the feeling of the economy will be like a recession. The inflation will be high grade

bookmark and quote it.

December (seasonal) consumer spending is just covering it.

Lush100:
Let me put it out now

By February/March in 2020 , if the border remains closed and the interest rate (MPR and TB rate dicotomy)remains the same,
the feeling of the economy will be like a recession. The inflation will be high grade

bookmark and quote it.

December (seasonal) consumer spending is just covering it.

Normally Jan is a tough month for people but this time that this GS have already been tough I wonder how Jan will be.

We would even be confused as to whether its border closure, recession or inflation that is causing the hardship.

IkalaiyeLOTO:
Op, Is it Buhari or Nigeria that is in problem?

Buhari is actually the problem but since he is now our Daddy we don't care

Lush100:
Let me put it out now

By February/March in 2020 , if the border remains closed and the interest rate (MPR and TB rate dicotomy)remains the same,
the feeling of the economy will be like a recession. The inflation will be high grade

bookmark and quote it.

December (seasonal) consumer spending is just covering it.

Ofcourse nothing good will come out of this boxer closure than inflation

Lush100:
Let me put it out now

By February/March in 2020 , if the border remains closed and the interest rate (MPR and TB rate dicotomy)remains the same,
the feeling of the economy will be like a recession. The inflation will be high grade

bookmark and quote it.

December (seasonal) consumer spending is just covering it.

Simple economics but hatred for the South will not allow Buhari and his cronies to see.

Most if not all the so called banned good like foreign rice in the market especially from the middle belt to the north are brought into the country through the northern open borders by northerners. It's a free for all market up there.

I have never seen a very myopic south like the South of today. They have completely removed them from this govt.
Only north has professionals.

This man never believed in one Nigeria and is very vindictive

No easy money(loot) to launder these days in 9ja so dem two international banks close up shop .


Business
French Court Hits Swiss Bank UBS With $5.1 Billion Penalty
THE ASSOCIATED PRESS (JEFFREY SCHAEFFER and ANGELA CHARLTON)
February 20, 2019, 2:45 AM EST Updated on February 20, 2019, 2:11 PM EST


https://www.bloomberg.com/news/articles/2019-02-20/swiss-bank-ubs-may-face-massive-fines-in-french-trial


HSBC pays record $1.9bn fine to settle US money-laundering accusations
This article is more than 6 years old
Bank guilty of 'blatant failure' to implement money-laundering controls and wilfully flouted sanctions, US prosecutors say

https://www.theguardian.com/business/2012/dec/11/hsbc-bank-us-money-laundering

IkalaiyeLOTO:
Op, Is it Buhari or Nigeria that is in problem?

What a silly comment.

helinues:
In trouble indeed.

Triple-decked Trouble---Buhari, Emefiele and Buharinomics.

yes sir, we would be confused. I am just afraid the min of finance( or any other brain ) in this govt can not see it.
unfortunately Economist Boyo is dead.
I only pray 2020 will not be worse than 2015/2016

codedguy1:


Normally Jan is a tough month for people but this time that this GS have already been tough I wonder how Jan will be.

We would even be confused as to whether its border closure, recession or inflation that is causing the hardship.

Simplyleo:
So that is how buhari lands in trouble?

Make una continue dey put buhari in trouble o.

Emefiele is Jonathan's Appointee. Buhari inherits him and he is misusing him.

superstar1:
See them — always looking for dead news to resuscitate. A news of over a year ago.

The Banking System has collapsed since four years ago, so the News is still very relevant.

Afolabimills:
Next level things God punish all those who brought this plague upon Nigeria

AMEN.

No money to loot again.

Lush100:
yes sir, we would be confused. I am just afraid the min of finance( or any other brain ) in this govt can not see it.
unfortunately Economist Boyo is dead.
I only pray 2020 will not be worse than 2015/2016

Everyone in this govt can't see anything. They actually know nothing. I didn't even add the new tax regime, ussd fee, increase in electricity/darkness bills and whatever they will come up with next year.

There is nothing to indicate that there would be some sort of relief next year to alleviate the sufferings of the past.

Pusyiter:
When democracy has been ethnocentric, this is what your get

common Knowledge we can't manage it. See the Volume of Professors we are wasting in this Land on Elections, Appointments and on their Utilisation.

What concerns vulture with the death of the barber? He get hair for head?

Buhari can never be in trouble but Nigerians are.

J111333:
What concerns vulture with the death of the barber? He get hair for head?

Buhari can never be in trouble but Nigerians are.

Hehe, help me tell them.