Mr Godwin Emefiele, Governor of Central Bank of Nigeria (CBN), says the bank, with some stakeholders, have identified smuggling and dumping as major challenges sabotaging the Nigerian economic policies.
The governor said this on the sideline of a consultative roundtable titled, “Going for Growth” with some economic stakeholders in Lagos.
The News Agency of Nigeria (NAN) reports that the essence of the rountable was to encourage participants to highlight important building blocks that will 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.
Others include how to reduce the nation’s dependence on imported goods and increase exports of non-oil goods and services.
Emefiele said, “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.
He also said the CBN asked commercial banks to close those companies’ accounts and those of the top members of such entities.
The bank chief said CBN in due course would come up with the names of those that had been identified.
“We want to be sure that we come up with something that is credible and cannot be denied.
“At this stage we have already blocked the accounts of some in the textile and rice and palm oil company.
“We are investigating those accounts and as information becomes clearer, we can clearly say that they committed the offence.
“We would then go to the next level which is to forbid any Nigerian bank from maintaining accounts for these people,” he said. (NAN)
Earn more money by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Rant Money website you earn: https://ranthq.com.ng0
You have been spending money buying data to read news online while publishers make huge revenue from adverts without giving you a dime; this is about to change as Rant Money now shares her advert revenue with readers -
Rant Money Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act again.
Rant Money does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed