Buhari Reacts To HSBC Bank's Report On 2019 Elections
Buhari is a former military leader of the West African country. Image: Trentonline

President Muhammadu Buhari has said the HSBC Bank does not have the moral right to say Nigeria will experience economic hardship if he is re-elected.

HSBC, one of the top banks in the world had in a recent report warned that Nigeria would be in economic turmoil if Buhari wins in 2019.

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Reacting to the development, Buhari’s spokesman Garba Shehu, said “a bank that soiled its hand with milions 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.”

According to him, “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.”

He added that “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 offenses.

“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.

“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.