Godwin Emefiele is threatening our website! (Updated)

We have just received this email. Zenith Bank is trying to shut down this website!!

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If the picture above is too small, please see the text of the email below

Hello,

The enclosed domain/URL is infringing upon our clients –  Zenith Bank – Intellectual Property / Private Information.

We are making an urgent request of yourself and organisation to;

PLEASE REMOVE THE FOLLOWING OFFENDING CONTENT –

 

BRAND : Zenith Bank

DOMAIN / URL: http://emefielemustgo.com/

Type : Brand Abuse
iZOOlogic provides Security Services to the client and are fully authorised to represent Zenith Bank in regards to this matter.

The enclosed domain/URL needs to be removed, based on the following one or more of the following reasons;
– the URL contains Intellectual Property or Private Information that is owned by the client where the publication of such content is detrimental to the client.
– the domain or URL displays displays the copyright property of the client, this copyright content maybe a trademarked name, or an image/text based logo, or a designed image or colour scheme representing the client’s copyright brand.
– there is a downloadable file/package that contains copyright work and content when downloaded and executed on a mobile OS.

iZOOlogic provides security services to the client and we are fully authorised to act on behalf of the copyright owner. The copyright owner have instructed us to engage with any relevant third party or law enforcement agencies to resolve this copyright infringement. We can provide this evidence of authorisation from the client if required.

The information we have provided to you today is true and accurate and we are authorised to act on behalf of the copyright holder.

Please let us know if you have any queries or require any further information to help solve this matter.

We appreciate your urgent attention in removing the above content/domain/URL as soon as possible.

Regards,

 

 

iZOOlabs Security Response

Phone + 44 20 3734 2726

izoolabs@izoologic.com

www.izoologic.com

 

Please, can somebody tell us what concerns Zenith Bank with this website? How is the name ’emefielemustgo’ their intellectual property? Did we share any private Zenith Bank information? No! Did we post any Zenith Bank memo? No! How can the name of the Central Bank Governor be the property of Zenith Bank??

Is Godwin Emefiele now trying to use Zenith Bank to bully us? We refuse to be intimidated! This is not about us or any individual. It is about the Nigerian economy that Emefiele is destroying. People cannot even buy common drugs again because Emefiele’s policies are making it impossible for dollars to enter our economy.

We just wanted to inform you about this latest development to let you know what is going on. This is how Emefiele behaves. He uses harassment and intimidation to silence anybody who challenges him. That is why so many people who should be talking about how he is killing the Nigerian economy are keeping quiet!

We will reveal more of his crimes in the coming days and weeks. But we will not be intimidated!

UPDATE!

The company that sent us the email above has now clarified that it is NOT Zenith Bank that asked them to email us. They say they are acting on Emefiele’s behalf.

So in the interest of full disclosure, we have changed the heading of this post. Please see the latest email they sent to us below

Hi Savenigeria,

 

Please let me first apologise for our previous email, we do not mean to harass you.

 

As you may realise Mr Godwin Emefiele previously worked at Zenith Bank – where we had a relationship with him.

 

Mr Godwin Emefiele feels your website – emefielemustgo.com contains untrue statements so engaged us to act on his behalf to liaise with you to remove such comments.

 

Unfortunately one of our SOC staff members sent you a Take Down Request template and attributed this to our client Zenith Bank. I apologise for this occurring.

 

As this issue has nothing to do with Zenith Bank – can you please remove all reference regarding Zenith Bank. 

 

The issue that relates to Mr Godwin Emefiele is between – him and yourself and iZOOlogic acting as the intermediate agent.

 

We appreciate your co-operation in this matter and removing the content that relates to Zenith Bank – as this is unfair to the bank.

 

We apologise for this inconvenience but appreciate your help.

 

Regards,

 

Aluta continua!

If you have any information on Godwin Emefiele you will like to share. Please send an email to us at savenigeria@protonmail.com. Your anonymity is 100% guaranteed!

 

The true story about Standard Chartered Bank’s $25m forex deal

Last week ThisDay newspapers published a story about how the CBN had fined StanChart Bank N2bn for a forex offence. Please read the story here.

Who gave this story to ThisDay? The story is not true so we strongly suspect it was someone in CBN who gave them the story.

So what really happened?

ICBC bank of China wanted to bring some dollars into the Nigerian economy. They called Stanbic IBTC who they normally use for their transactions and told them that they wanted to exchange the $60 million for naira and that they wanted a rate of N390 to $1.

Please be aware that Godwin Emefiele has previously warned all the banks to phone him before they do any foreign exchange transaction above N315 to $1 or else he will sanction them. Yes, you must phone Emefiele before you can buy dollars at more than N315 to $1!

So Stanbic called him to ask for his permission to buy the dollars from ICBC. Emefiele refused to give them permission. Stanbic now went back to ICBC to tell them they could not buy the dollars at that rate as CBN had refused them approval. Lo and behold, ICBC then informed Stanbic that they had already sold the $60 million to Zenith Bank at N390 to $1!!!

How did Zenith go behind Stanbic’s back to buy the dollars for the same rate when Emefiele had refused to give Stanbic approval??!

Please be aware that Emefiele has instructed banks to always post their transactions on Reuters. It is through Reuters that international investors and foreign media see Nigeria’s daily foreign excahnge transactions. But in this case, Zenith Bank did not post the $60m transaction on Reuters. Why? Is it because Emefiele wants to continue deceiving the world that Nigeria’s exchange rate is below N315 to $1?

But other banks heard that Zenith Bank had done a transaction for N390 to $1. Based on this, they thought that Emefiele had released his tight control of the market. Some of them quickly started calling their foreign clients to bring in money that could not be brought in because of the artificial low rates enforced by Emefiele.

This was where Standard Chartered entered Emefiele’s trouble. They called one of their foreign clients to arrange a $25m transaction at N380 to $1. They quickly bought it and then sold all the $25m to various Nigerian clients at N380.50 to $1. This is because Emefiele has another rule that banks must not charge more than a spread of 50kobo on forex deals. But typical of Emefiele, he allows some people break this rule!

The $60 million that Zenith Bank purchased from ICBC at N390 to $1 was sold to a Nigerian client at N420 to $1! Emefiele allowed them to do this and he also allowed them not to put the transaction in the Reuters system.

Standard Chartered then committed another offence according to the rules of Emefiele. They updated the $25 million transaction in Reuters. This means that Reuters then showed that rates on the interbank market were going up. They also did not call him for approval before doing the deal.

These 2 offences made Emefiele very angry so he immediately wrote Standard Chartered a letter (we have seen a copy of this letter) asking them to explain themselves. He immediately debited their account with a N1.7bn fine (Please note that the profit that they made on the deal was N12.5 million!). He also asked them to suspend their Chief Treasurer. Standard Chartered have placed the Treasurer on suspension as instructed.

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Please be aware that we are not here to defend Nigerian banks and bankers. They are not saints. We are here to tell the truth about the damage Emefiele is doing to our economy. This forex scarcity has increaed his power over the economy and he is now doing anything he likes. Is this because he is protected by Abba Kyari?

From this story we inform you of 3 things that Godwin Emefiele is using his office to do

  1. He is using the CBN to enrich Zenith Bank and allowing them break the rules he applies to other banks. For those who don’t know, Godwin Emefiele used to be the CEO of Zenith Bank before he joined CBN. 
  2. He is blocking foreign exchange from entering Nigeria at a time when the country is suffering a serious forex crisis. 
  3. He announced to the world in June that he was floating the Naira and then turned around to do another thing. In the eyes of foreign investors, Nigeria has no credibility again because the Central Bank governor can say one thing and do the opposite. 

Godwin Emefiele is destroying our industries and our economy. Nigerians need to know the truth about what he is doing and we will reveal more of his corrupt deals and bad policies on this website!

 

If you have any information on Godwin Emefiele you will like to share. Please send an email to us at savenigeria@protonmail.com. Your anonymity is 100% guaranteed!

How Godwin Emefiele manipulates Nigeria’s forex market

Have you noticed that the exchange rate on Nigeria’s interbank market has been very ‘stable’ for a while now? How come the market manages to close around or below N310 to $1 everyday. This is the work of Godwin Emefiele. His number one goal is to ensure that the exchange rate is ‘stable’ and he uses several means to achieve this including illegal methods.

Please be aware that the last transaction for the day on the interbank market is the rate for that day. For example, see below

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What the above rate of N304.75 to $1 means is that the last trade on the 11th of November was done at that rate. Any time you check FMDQ after the market has closed, any rate you see there is the last closing rate of the market.

Because this rate is what members of the public see, this is where Emefiele manipulates the market. How does he do this?

  1. We are asking any member of the public who has access to FMDQ or the Reuters system to check for a specific pattern. There are currently at least 120 fake trades on the system set up by Emefiele to manipulate the exchange rate.
  2. These trades are usually around $1.5m everyday around when the market closes. This is to make sure that such a trade is the closing trade for the day.
  3. What Emefiele does is to ‘sell’ $1.5m to a bank like Access at a very low rate everyday around closing time. The CBN will offer to ‘sell’ $1.5m to a bank at N305 and the transaction will be ‘closed’ and updated in Reuters.
  4. But these trades are never settled! The CBN does not sell any forex and the bank on the other side of the transaction does not buy anything. They are fake transactions put on the interbank system purely to manipulate the closing exchange rate.

This is what Godwin Emefiele is doing to Nigeria’s economy. He will happily destroy our economy and industries just to achieve an exchange rate he likes. For an institution like the CBN to be engaging in illegal activities like this is unbelievable.

Once again, we are asking members of the public who have access to Reuters or FMDQ to confirm these $1.5m transactions everyday around closing time. This is illegal, fradulent, criminal and completely unacceptable. Godwin Emefiele must go!

 

If you have any information on Godwin Emefiele you will like to share, please send an email to us at savenigeria@protonmail.com. Your anonymity is 100% guaranteed!

 

What is this site about?

Nigeria is Africa’s largest economy and the biggest black nation in the world.

Since the Buhari government came into power in May 2015, the Central Bank governor, Godwin Emefiele, has grown in power, influence and corruption. He has now done a lot of damage to Nigeria’s economy and credibilty with his disastrous forex policies and control of the markets.

He is incompetent, corrupt and very erratic. He makes the rules of the forex market as he likes, depending on who he wants to favour on a particular day.

The size of Godwin Emefiele’s corruption and incompetence is too much even by Nigeria’s standards. We want to expose what is going on at Nigeria’s Central Bank so that Nigerians will know the damage being done to our economy.

We are a group of concerned finance professionals who believe that Nigerians need to know what Godwin Emefiele is doing to our economy and industries. The Central Bank currently has no board because President Buhari has not appointed one. This means that Godwin Emefiele is currently a law unto himself at the Central Bank and he can do anything he likes.

Enough is enough! – Godwin Emefiele must be replaced by a competent Central Bank governor before he damages Nigeria’s economy beyond repair.