The Economic and Financial Crimes Commission (EFCC) has come down hard on global financial and banking services organization, HSBC Bank.

The Nigerian anti-graft agency accused the international bank of money laundering.

This was contained in a statement which it posted on its Instagram page - @officialefcc.

HSBC Bank’s prediction

HSBC Bank had earlier predicted, among many other things, that the Nigerian economy will worsen, if President Buhari wins in 2019.

The bank also said that another four years with Buhari will prolong the stagnation experienced since he came into power in 2015.

EFCC fires back

In its response, EFCC vowed to recover all the funds allegedly being kept by HSBC Bank.

The anti-graft agency, in a statement titled: The Story of HSBC, said "HSBC Bank plc is one of the largest banking and financial services organisations in the world. HSBC's international network comprises around 7,500 offices in over 80 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. .

"Since inception, 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.

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"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.”

Meanwhile, the Federal Government has dismissed the report, describing it as fake and a psychological warfare against the administration’s anti-corruption policies.