On Tuesday, February, 6, The Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, disclosed while briefing members of House of Representatives in Abuja to sanctions will be placed on Nigerian banks that are found sabotaging monetary policies or guilty of unauthorized withdrawals from customer accounts.
According to him, alleged indiscriminate charges and withdrawals from customers’ accounts shall be investigated upon reports and dealt with decisively. He has vowed to take strong action against banks engaging in unauthorised withdrawals from customers’ accounts. He also promised to take its oversight functions more seriously and ensure sanctions.
Cardoso said ““I want to assure you that I have no reluctance to wield the big stick, this is the time when people and entities that we regulate must comply, we must do the right thing.”
“We will stop at nothing in wielding the big stick or hammer in ensuring that they do the right thing for the benefit of Nigerians.”