President Muhammadu Buhari

Global Bank Predicts Buhari’s Return In 2019 Would Cripple Economy: FG Reacts

(By Chioma Peters)- The declaration of HSBC, a global bank that a bleak future awaits Nigerians should President Muhammadu Buhari return in 2019 is not going down well with the Nigerian government.

In a swift reaction, the Federal government said the projection that a second term for Buhari raises the risk of limited economic progress and further fiscal deterioration could not be true. Nigerian government instead called on foreign banks to return funds stolen from Nigerian in their custody, stressing that the present economic challenges in Nigeria were inherited.

Meanwhile, the declaration of HSBC appears to be coming on the heels of other predictions by The Economists magazine and other foreign authorities indicating that the ruling All Progressives Congress are not favoured to continue in government after the 2019 elections because of the declining fortunes of the citizens, who also accuse the federal government of unprecedented practice of nepotism, selective anti-graft war and lack of significant improvement in the economy.

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