ENUGU, Nigeria (VOICE OF NAIJA) – The Central Bank of Nigeria (CBN) has issued a directive to banks to lift the post-no-debit restrictions placed on the bank accounts of 440 individuals and companies.
A post-no-debit restriction implies that all debit transactions, including ATMs and cheques, on the accounts have been blocked, but they can still receive inflows.
The circular, signed by A.M. Barau on behalf of the CBN director of banking supervision, on Tuesday, also mandates banks to inform the concerned customers about the development.
The reason behind the action was not specified by the apex bank.
The list of companies includes Bamboo Systems Technology Limited, Escale Oil & Gas Limited, Rise Vest Technologies Limited, Chaka Technologies Limited, abokiFX Limited, Nairabet International, Northwood Energy Services, and Proport Marine Limited, among others.
The circular reads: “You are hereby directed to vacate the Post-No-Debit restriction placed on the accounts of the under-listed bank customers at our instance.
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“You are also required to inform the concerned customers of the vacation accordingly.”
In 2021, CBN instructed banks to freeze the accounts of 18 companies, ranging from bureaux de change, construction firms, investment companies, laundering services, and property companies.
The affected companies included Bakori Mega Services, Ashambrakh General Enterprise, Namuduka Ventures Limited, Crosslinks Capital and Investment Limited, IGP Global Synergy Limited, Davedan Mille Investment Limited, and Urban Laundry.
Others were Advanced Multi-Links Services Limited, Spray Resources, Al-Ishaq Global Resources Limited, Himark Intertrades, Charblecom Concept Limited, and Wudatage Global Resources.
Treynor Soft Ventures, Fyrstrym Global Concepts Limited, Samarize Global Nigeria Limited, and Zahraddeen Haruna Shahru were also included.
All 18 companies have had their bank accounts unfrozen by the apex bank.