The central bank governor, Godwin Emefiele, believes smugglers are “killing” Nigeria’s economy. Speaking at a recent roundtable event in Lagos, he said: “Nigeria is very good at making brilliant economic policies, but smugglers are those sabotaging these policies”. Thus, he said, the CBN would “block the smugglers’ accounts in all Nigerian banks”. Those circumventing the government’s foreign exchange restrictions on certain importswould also be “blacklisted” and prevented from operating in the foreign exchange market and the banking industry.
Continue reading Emefiele threatens smugglers, but his policies breed them at Vanguard News.
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