Skip to main content

CBN vows to seize private jets belonging to loan defaulters

Emefiele says the chunk of the loans in the Asset Management Corporation of Nigeria was being owed by Nigerians.

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele says private jets belonging to loan defaulters would be seized.

Emefiele said this during his visit to the Dangote refinery and fertiliser project site in Lagos on Saturday, February 29, 2020.

The CBN governor made it known that the chunk of the loans in the Asset Management Corporation of Nigeria (AMCON) was being owed by Nigerians.

According to Punch, Emefiele said that Nigerian banks were willing to support entrepreneurs in the country “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, however, commended the President, Dangote Group, Aliko Dangote, for the projects saying, the CBN would keep supporting entrepreneurs that are willing to “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.”

ridoola.blogspot.com.ng
Labels:

Comments

Post a Comment

Popular posts from this blog

Okpebholo suspends A-G & LG Chair under 3 months over finance dealings

The Edo Government has announced the suspension of Samson Osagie , its Attorney-General and Commissioner for Justice, and Damian Lawani , chairman of the Local Government Service Commission. Mr Musa Ikhilor , Secretary to the State Government (SSG) announced the suspension in a statement in Benin on Thursday morning. ALSO READ: Kano Govt suspend 2 school principals for alleged absenteeism, negligence Ikhilor said the two-state top officials were suspended over allegations of “grave official and financial interactions”. Okpebholo suspends Edo Attorney-General and LG Service Commission Chairman According to him, the suspension, which takes immediate effect, is pending the conclusion of an investigation into the allegations. The SSG said; It is hereby announced for the information of the general public that Gov. Monday Okpebholo has approved the suspension from office of the Chairman of Edo Local Government Service Commission, Damian Lawani and Commissioner for Justice, Samson Os...
Post a Comment
Read more

Family Homes Funds, TETFund & Private Investors Lead National PPP Drive for Renewed Hope Student Housing Projects

The Renewed Hope Student Housing Project is a Public Private Partnership initiative of His Excellency Bola Ahmed Tinubu GCFR that is set to improve the living standards and revitalize infrastructure across Tertiary Institutions in the country with a plan to deliver 38,400 world class student hostel bed spaces across a total of 24 locations: 12 Universities, 6 Polytechnics & 6 Colleges of Education. The Renewed Hope Student Hostel Project in each of the 24 locations will boast 1,600 bed spaces, 400 ensuite rooms with study table and chairs, 4 reading rooms, common room, cafeteria & restaurants, laundromat, grocery shops, salons, public toilets etc.  Family Homes Funds Limited (FHFL), in partnership with the Federal Government of Nigeria, the Tertiary Education Trust Fund (TETFund) and Africa Plus Partners Nigeria Limited is set to deliver on Mr. President’s promise to transform student accommodation nationwide through the Public Private Partnership (PPP) Renewed Hope Stude...
Post a Comment
Read more

NYSC Mobilisation & Academic Standards – Raising quality or adding pressure on students?

On September 29, 2025, President Bola Ahmed Tinubu approved a reform linking the National Youth Service Corps (NYSC) mobilisation process to the National Policy for the Nigeria Education Repository and Databank (NERD). By invoking Sections 2(4)(4) and 16(1)(C) of the NYSC Act, Tinubu stated that no graduate, whether from a Nigerian or foreign institution, will be mobilised for or exempted from NYSC without proof of compliance with the NERD policy. In a common man's understanding, the Federal Government has announced that Nigerian students must now submit their final-year projects or thesis before they can be mobilised for the National Youth Service Corps (NYSC). This policy aims to improve academic standards, ensuring that no student skips essential academic requirements before entering the NYSC scheme . On the surface, this sounds like a laudable idea, but a deeper look reveals a different reality. In many universities, students are allowed to graduate and mobilised for NYSC  ...
Post a Comment
Read more