CBN Governor, Mr. Godwin Emefiele
The
Central Bank of Nigeria and the Deposit Money Banks under the aegis of
the Bankers Committee will commence the imposition of market sanctions
on delinquent debtors of banks any time soon.
The Acting Director, Banking Supervision,
CBN, Mr. Kolawole Balogun, stated this in Lagos at a press briefing
shortly after the 323rd meeting of the Bankers Committee, which was held
at the CBN office in Lagos.
He
did not specify the nature of the market sanctions, but CBN had said
that delinquent debtors would be banned from participating in the
foreign exchange market.
Balogun, who expressed satisfaction over
the publication of the debtors’ lists, said banks would release lists of
more delinquent debtors in coming weeks.
He said, “We have seen good responses
from the name and shame strategy of recovering delinquent facilities.
This is not the end; there will be follow-up actions in terms of market
sanctions. It is the decision of the Bankers Committee. However, those
who regularise their accounts with the banks will not partake in this.”
Meanwhile, the Bankers’ Committee said
the CBN and banks would go after street hawkers of the naira with a view
to bringing them to justice.
As a result, the committee has enlisted
the help of security agencies to arrest those caught buying or selling
naira on streets across the country.
It described street hawking of the
national currency as embarrassment to the nation and insisted that those
caught in the illegal business would face the full wrath of the law.
The Managing Director, Enterprise Bank
Limited, Mrs. Mary Akpobome, who stated these, said, “Our currency is
being hawked on the streets in different places across the country. This
is not possible in places like the United Kingdom and the United
States. We have informed the securities agencies about this and buyers
and sellers caught in this act will face the wrath of the law.”
The Managing Director, Guaranty Trust
Bank Plc, Mr. Segun Agbaje, said domiciliary accounts were still
operational as before except that banks no longer accept cash deposit of
dollars and other foreign currencies.
He, however, said the CBN was ready to meet demand for invisible trade items through its windows.
The Managing Director, Wema Bank Plc, Mr.
Segun Oloketuyi, said the Bankers Committee had suspended charges on
customers who make transaction above the prescribed limits in the
Cashless Nigeria Policy.
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