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Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters - Business - Nairaland

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Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by valentineuwakwe(m): 10:57pm On Feb 29, 2020
Central Bank of Nigeria Governor, Godwin Emefiele , has said the private jets belonging to loan defaulters would be seized.
Emefiele , who spoke on Saturday during a visit to the Dangote refinery and fertiliser project site in Lagos , said the chunk of the loans in the Asset Management Corporation of Nigeria was being owed by Nigerians.
He said 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 , who commended the President, Dangote Group, Aliko Dangote , for the projects , said the CBN would continue to support entrepreneurs 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. ”
https://punchng.com/well-seize-private-jets-belonging-to-loan-defaulters-cbn/

13 Likes 5 Shares

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Afamed: 11:02pm On Feb 29, 2020
Long overdue

24 Likes 1 Share

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by GamalNasser: 11:28pm On Feb 29, 2020
Didn't the banks do their risk and collateral analysis before handing out loans to these Jet owners ? I don't think the govt should get involved in the prosecution of toxic or bad loans from the perspective of the customer but rather should investigate why Nigerian bank risk analysis are so porous that people can huge loans with clearly no projection or collateral to back it up ... It's clearly Corruption between bank management and their cronies to steal depositors monies , a person I personally was able to get a loan of over a billion naira from a bank using a fake banana island C of O ofcourse in cahoots with management of the bank , after 3 years when that management had left he was picked up by the EFCC and spent 3 months with them and since then has been a free man even though I don't have the details of how he got free

33 Likes 2 Shares

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Hotzone(m): 6:05am On Mar 01, 2020
What I can afford is KEKE BUS for now

6 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Lexusgs430: 6:06am On Mar 01, 2020
What a cheek....... They owe money (without paying) and still fly PJ.......

Does the PJ use solar or water?......

2 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by younghartz(m): 6:06am On Mar 01, 2020
Okay
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by aolawale025: 6:06am On Mar 01, 2020
Were those planes part of the collateral?
Anyway they have their work cut out. Most planes are registered overseas. And often have complex ownerships

4 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by ayusco85(m): 6:07am On Mar 01, 2020
GamalNasser:
Didn't the banks do their risk and collateral analysis before handing out loans to these Jet owners ? I don't think the govt should get involved in the prosecution of toxic or bad loans from the perspective of the customer but rather should investigate why Nigerian bank risk analysis are so porous that people can huge loans with clearly no projection or collateral to back it up ... It's clearly Corruption between bank management and their cronies to steal depositors monies , a person I personally was able to get a loan of over a billion naira from a bank using a fake banana island C of O ofcourse in cahoots with management of the bank , after 3 years when that management had left he was picked up by the EFCC and spent 3 months with them and since then has been a free man even though I don't have the details of how he got free


Are you a loan defaulter?

21 Likes 1 Share

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by RaptObserver: 6:09am On Mar 01, 2020
Story for the gods...who is "driving private jets"?

7 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by helinues: 6:11am On Mar 01, 2020
Better

More than average of the acclaimed Nigeria billionaires are audio billionaires with lots of debt.

Loans!!! Though when person reach some stage in life, you can't avoid it but at the same time, it's not a good thing to rely on .

15 Likes 1 Share

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by itsme01: 6:11am On Mar 01, 2020
cool


Big men intentionally take loans that they don't intend to pay back, and they muscle the banks with political influence or file for bankruptcy and let AMCON settle the mess using tax payer's money

Thank God Buhari is witchhunting the PDP with their sins, I hope The next government does the same, and the circle keeps going round till everyone start doing the right thing because of the fear of their political enemies.. The fear of Republicans make Democrats seat right and vice versa


.

20 Likes 2 Shares

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by crownwealth: 6:12am On Mar 01, 2020
Way to go...

1 Like

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by xreal: 6:16am On Mar 01, 2020
Let us know when you collect their private jets.

6 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Pabloosas(m): 6:17am On Mar 01, 2020
grin
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by hemucology(m): 6:25am On Mar 01, 2020
Nigeria my country

2 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by grandstar(m): 6:28am On Mar 01, 2020
GamalNasser:
Didn't the banks do their risk and collateral analysis before handing out loans to these Jet owners ? I don't think the govt should get involved in the prosecution of toxic or bad loans from the perspective of the customer but rather should investigate why Nigerian bank risk analysis are so porous that people can huge loans with clearly no projection or collateral to back it up ... It's clearly Corruption between bank management and their cronies to steal depositors monies , a person I personally was able to get a loan of over a billion naira from a bank using a fake banana island C of O ofcourse in cahoots with management of the bank , after 3 years when that management had left he was picked up by the EFCC and spent 3 months with them and since then has been a free man even though I don't have the details of how he got free

You do have a strong point.

If these private jets were not provided as collateral, do the banks have the right to seize them?
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by 12Monkeys: 6:30am On Mar 01, 2020
This Emefile is an idiot.

So a business man borrows from the bank to invest into the economy under his private liability company.

Govt Policies under the dullard screws his investments and his company goes bust.

Why blame business men who invested

The useless CBN and Buhari govt are to blame.

Besides, these banks are killing the eonomy with their loan shark rates.

Emefile should consider reducing the lending rate as that is the major thing fueling inflation in Nigeria.

How can banks be lending at 35%
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by SpyAC(m): 6:33am On Mar 01, 2020
Hotzone:
What I can afford is KEKE BUS for now
abeg how much Dem dey sale this keke bus safe, I wan use am for my private car, so that this sars guy go let me rest kwanu
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Debaiz: 6:34am On Mar 01, 2020
Gradually we are getting there. In saner climes with capitalist economy, you can’t even owe tax without the government removing from your bank account, seizing your assets or worst still you go to jail let alone owe loans and still flying private jets.

Emefiele has shown that when we have a serious president, Nigeria will develop with the support of CBN.

Under GEJ, this same Emefiele committed federal crimes by releasing dollars from the CBN vault to a dubious president. Now he’s the same one using his position to help drive the economy. Simply because the siting president is purposeful and not corrupt.

12 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Badonasty(m): 6:34am On Mar 01, 2020
The cbn governor don change him name?

3 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by fakem: 6:35am On Mar 01, 2020
Death on arrival since it is targeted at the rich, if it is against the hustling masses, it would have worked
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by seunlayi(m): 6:37am On Mar 01, 2020
Has buhari paid his nomination form loan?
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by FemiOyewoleGCFR(m): 6:38am On Mar 01, 2020
GamalNasser:
Didn't the banks do their risk and collateral analysis before handing out loans to these Jet owners ? I don't think the govt should get involved in the prosecution of toxic or bad loans from the perspective of the customer but rather should investigate why Nigerian bank risk analysis are so porous that people can huge loans with clearly no projection or collateral to back it up ... It's clearly Corruption between bank management and their cronies to steal depositors monies , a person I personally was able to get a loan of over a billion naira from a bank using a fake banana island C of O ofcourse in cahoots with management of the bank , after 3 years when that management had left he was picked up by the EFCC and spent 3 months with them and since then has been a free man even though I don't have the details of how he got free
The CBN has given all commercial banks in Nigeria a directives to give out loan to entrepreneurs who wants to do business without an option of receiving collateral.

3 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by airminem(f): 6:39am On Mar 01, 2020
"driving private jet and fly bicycle" ? At this juncture, i need wine.
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Nobody: 6:40am On Mar 01, 2020
AMCON oga was a loan defaulter. Has he paid his.own bank loan? Only political opponents get to have their jets seized. Hypocrites.
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by itsme01: 6:44am On Mar 01, 2020
12Monkeys:
This Emefile is an idiot.

So a business man borrows from the bank to invest into the economy under his private liability company.

Govt Policies under the dullard screws his investments and his company goes bust.

Why blame business men who invested

The useless CBN and Buhari govt are to blame.

Besides, these banks are killing the eonomy with their loan shark rates.

Emefile should consider reducing the lending rate as that is the major thing fueling inflation in Nigeria.

How can banks be lending at 35%

this is not about who to blame or who not to blame, if CBN don't step in quickly to seize asset, customers would reach their banks for withdrawals of less than 5 million and the banks wont have funds to release

don't take loans you aint sure pf paying back because if the banks folds up, peoples live savings , pensions and business capital goes with it, a case study is saraki's society generale .. no matter the amount you have Nigerian banking insurance would only pay you not more than 100k

10 Likes

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by 12Monkeys: 6:48am On Mar 01, 2020
itsme01:


this is not about who to blame or who not to blame, if CBN don't step in quickly to seize asset, customers would reach their banks for withdrawals of less than 5 million and the banks wont have funds to release

don't take loans you aint sure pf paying back because if the banks folds up, peoples live savings , pensions and business capital goes with it, a case study is saraki's society generale .. no matter the amount you have Nigerian banking insurance would only pay you not more than 100k


I believe the banks loaned money with a collateral in place


Let them go and sieze the collateral.

What Emefile is doing is a to give the banks free hand to acquire wealth beyond the original loan

This is another form of centralized wealth confiscation

2 Likes 2 Shares

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Bellotelli: 6:51am On Mar 01, 2020
What... Are they targeting Athiefku
Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by itsme01: 6:53am On Mar 01, 2020
12Monkeys:


I believe the banks loaned money with a collateral in place


Let them go and sieze the collateral.

What Emefile is doing is a to give the banks free hand to acquire wealth beyond the original loan

This is another form of centralized wealth confiscation

many times loan interest outgrow the collateral, and sometimes the collaterals loose values in a case where the collateral is the company in question and the CEO simply diverts the loan to other ventures while watching the business go bankrupt and he enjoys the loan

and to quite frank, the reason bank give loan is to acquire "wealth beyond the original loan" the profit gives them fund to pay salary of workers, give shareholders dividends and run the banks buying diesel and internet

so CBN vs Loan defaulters who are "Big Men" in the long run favours the masses whos money are tied to this banks, making a case for the defaulters is just funny because ordinary people don't even access loans this days

1 Like

Re: Emefiele: CBN Will Seize Private Jets Belonging To Loan Defaulters by Wickedfacts: 6:55am On Mar 01, 2020
ayusco85:

Are you a loan defaulter?

He is a PDPigg from the SE. Double jeopardy.
Their only job is to support thieves, criminals and looters of all kinds.

7 Likes

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