CBN To Seize Private Jets Belonging To Loan Defaulters – Emefiele

CBN To Seize Private Jets Belonging To Loan Defaulters - Emefiele

President Buhari discusses with Central Bank of Nigeria Governor Godwin Emefiele during the 4th Presidential Task Force meeting of ECOWAS on common currency for member states (file photo: State House)

Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), has said that private jets belonging to loan defaulters would be seized.

Speaking during a visit to the Dangote Fertilizer and Refinery Project in Lagos, Emefiele lamented the loan in the Asset Management Corporation of Nigeria being owed by Nigerians.

He revealed the eagerness of banks to support enterpreneurs “but they need credible people that can come in and borrow money and pay”.

He said, “In any case, the central bank will not allow you to borrow money and not pay again. The era has gone. Now, when you take a loan, you will pay. If you don’t pay, we will take your money wherever you keep it.

“If you are driving private jets, we will seize the private jets so that you can begin to ride on bicycles. Then we will know you are truly a liquidated person.”

Emefiele added that the CBN would continue to support enterpreneurs who “come out and contemplate projects where people can be gainfully employed”.

He said, “Today, there are 34,000 people working in this facility; in the next two months, it will double to almost 65,000 to 70,000 people in this complex.

“That is how a country creates prosperity, and that is why we are coming out boldly that we will support anybody. And we will put in place policies that will protect and make sure that for coming out to develop our economy, grow agriculture, manufacturing and industry, and the central bank rakes in dollars to fund our obligations, we will appreciate them and we will continue to do so.”

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