Bank accounts of Smugglers to be frozen – CBN
Identified banks accounts of smugglers will soon be frozen, the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has said .
Emefiele, who stated this after a meeting with President Muhammadu Buhari at the State House, Abuja, expressed satisfaction that the decision to close all land borders had not only created more jobs but also boosted rice and poultry productions in the country.
“You will all recall that we have been embarking on a programme where we are saying if you are involved in the business of smuggling or dumping of rice in the country, we close your account in the banking industry. Although that is coming very effectively,” the CBN governor said while fielding questions from State House Correspondents.
Emefiele, who was asked about the effect of the border closure on the economy and rice production in the country amid complaints, said, “You will all recall that in November 2015, President Buhari, the Central Bank and some state governors went to Kebbi State to launch the Wet Season Rice Farming. Since then, we have seen an astronomical growth in the number of farmers who have been going into rice farming and our paddy production has gone up also quite exponentially.
“Between 2015 and also now, we have also seen an astronomical rise in the number of companies, corporate and individuals that are setting up mills, integrated mills and even small mills in the various areas. And the central bank and the federal ministry of agriculture and rural development have been the centre of not just only encouraging the production of rice in Nigeria but also funding these farmers by given them loans to buy seedlings, fertilizers or some of the herbicides that they need for their rice production.
“You will all recall that we have been embarking on a programme where we are saying if you are involved in the business of smuggling or dumping of rice in the country, we close your account in the banking industry. Although that is coming very effectively.