THE Central
Bank of Nigeria, CBN yesterday pledged to bail out the dwindling textile
and garment industry by granting credit facility as well as fight against
smuggling of its products with the collaboration with other government
agencies.
In another
development, the CBN said it will sanction the delinquent debtors whose names
appeared on the list of debtors published by the banks recently.
Addressing
newsmen after the Bakers Committee Meeting in Lagos yesterday, the CBN said
that delinquent debtors would be sanctioned appropriately. “We will
sanction them if they fail to meet up with their obligation with the bank. In
few days, the sanctions will be taken and the banks will continue to publish
names of delinquent debtors from quarter to quarter,” Mr. Kolawole Balogun,
representing the Banking Director supervision , CBN has said.”
Meanwhile,
the Governor of CBN, Mr. Godwin Emefiele gave assurance of the apex
bank’s commitment to reviving the industry during the meeting with Cotton,
Textile and Garment industry, CTG in Lagos.
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