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Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, saturday said private jets belonging to chronic loan defaulters would be seized.
He also pledged that the apex bank would continue to support credible entrepreneurs in the country willing to always repay their loans.
Emefiele also commended the determination of Dangote Group of Companies to complete the construction of its refinery and petrochemical plants, saying the investments would be a significant addition to the country’s economic diversification drive.
Emefiele, said this at the end of an assessment tour of the Dangote Refinery and Petrochemical Company situated at Ibeju-Lekki, Lagos.
He explained: “The Central Bank will not allow you to borrow money and not pay again. That era has gone. Now, when you take a loan, you will pay back. If you don’t pay, we will take your money wherever you keep it.
“If you are flying 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 liquid person. You cannot owe banks and be flying jets all over the place. We’ll come after you. You must pay those loans.”
President of Dangote Group of Companies, Alhaji Aliko Dangote, said the fertiliser plant, scheduled to be fully operational in May, would be a major foreign exchange earner for the country. Dangote extolled the CBN for keeping down leading rates.
Emefiele, who was on his third visit to the plant, said when the refinery is fully operational, Nigeria would become the largest exporter of refined petroleum products in Africa, with enough to serve the whole of the continent. He urged other entrepreneurs to take advantage of the low interest regime to raise funds.
