CBN Set To Close Bank Accounts Of Prominent Smugglers – Emefiele

The Central Bank of Nigeria, CBN could block the accounts of those involved in smuggling and dumping of goods in the country as possible moves to check those sabotaging the nation’s economy.

CBN governor, Mr. Godwin Emefiele disclosed this on the fringe of a roundtable called to move the nation’s economy forward. The roundtable had the theme “Going for Growth.”

While observing the apex bank’s frustrations at moves by some stakeholders in sabotaging the plans laid down by the bank, he 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 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.”

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