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“Private jets of loan defaulters will be seized,”- Emefiele vows

Godwin Emefiele, the Governor of Central Bank of Nigeria has vowed that private jets owned by loan defaulters will be seized from them.

Emefiele disclosed the plan of the Central Bank during a visit to Dangote refinery and fertilizer project site in Lagos.

According to him, Nigerians owed the bulk of the loans in the Asset Management Corporation of Nigeria.

In his words, Emefiele 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.”

He, however, commended Aliko Dangote, the President of Dangote Group, for the huge refinery and fertilizer projects, and said that CBN will continue giving support to entrepreneurs who are willing to “come out and contemplate projects where people can be gainfully employed”.

“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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