Emefiele: We’ll freeze accounts of smuggling, dumping cabals

By Editor on 09/06/2019

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The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele,  has spoken of harder times for those involved in the smuggling and dumping of goods in Nigeria, saying the bank has adopted a more stringent strategy to punish them even if they escape the borders.

Emefiele, who spoke on the sidelines of brainstorming with stakeholders, during a consultative round table, entitled Going for Growth, said even if the perpetrators which the bank and stakeholders identified as one of the greatest threats to the economy, escaped the borders, they would still be tracked down for punishment.

His words: “We have identified smugglers and people dumping goods as those who sabotage those policies and we decided that we will deal with them. The strategy that we came up with is that we will not bother ourselves with them.

“There is an agency of government that is responsible for border control and if these people pass through the border control we would use the instrumentality of being the regulator of the banking system to make sure that we get the banks to provide all details about them.

“We investigate their accounts and if they are found in economic sabotage, boarding, smuggling and dumping in Nigeria, we would not only block their accounts, we would close their accounts in all the Nigerian banks simultaneously.”

The essence of the round-table was to encourage participants to highlight important building blocks that would lead to greater economic growth in the country.

It also involves the CBN Governor listening to their ideas and views on how productivity and investments by companies operating in Nigeria can be improved.

He also said the CBN asked commercial banks to close those companies’ accounts and those of the top members of such entities, and promised to come up with the names of those that had been identified in due course.




Source Whirlwindnews.com

Posted on June, 9 2019

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