CBN To Reduce Loans in AMCON

Sunday, March 01, 2020 07:57 PM / by Nwafor Sunday of Vanguard Newspaper/ Header Image Credit: The Financial Express           

Central Bank of Nigeria, CBN, has promised to reduce the chunk of loans in the Asset Management Corporation of Nigeria.

The apex bank also vowed to seize private jets belonging to loan defaulters. Disclosing this, the CBN Governor, Godwin Emefiele who visited Dangote refinery and fertiliser project site in Lagos, 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", the Punch quoted him to have said.

Credit: 

The post CBN goes tough on loan defaulters, vows to seize private jets owned by them first appeared in Vanguard Newspapers on February 29, 2020. Title edited to reflect current post above.

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