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CBN asks banks to block accounts of 18 companies



The Central Bank of Nigeria (CBN) has asked banks to place a post-no-debit on 18 companies’ bank accounts.

A post-no-debit means that all debit transactions, including ATMs and cheques, on the accounts, have been blocked but can receive inflows.

The circular, signed by Haruna B. Mustapha, of banking supervision, on Thursday, also instructed banks to send details of the accounts.

CBN asks banks to block accounts of 18 companies

CBN asks banks to block accounts of 18 companies

Last year, CBN also instructed banks to freeze accounts of 38 companies, including premier Lotto, owned by Adebutu Kessington, a Nigerian businessman popularly known as “Baba Ijebu”.

“You are hereby directed to place all accounts of the under-listed customers on Post-No-Debit (PND) restriction,” the circular reads.

The affected companies include 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 are Advanced Multi-Links Services Limited, Spray Resources, Al-Ishaq Global Resources Limited, Himark Intertrades, Charblecom Concept Limited, .

Also included are Treynor Soft Ventures, Fyrstrym Global Concepts Limited, Samarize Global Nigeria Limited, and Zahraddeen Haruna Shahru.

The did not any reason for the action.

The affected accounts belong to bureaux de change (BDCs), construction firms, investment companies, laundering services, and property companies.

TheCable understands that it be connected to the ongoing clampdown on illegal foreign exchange trading since the ban on forex sales to BDCs.

Few days ago, TheCable reported how the bank got a court injunction to freeze the accounts of four technology trading platforms over alleged illegal forex transactions and cryptocurrency trading.

The platforms have denied wrongdoings.

On Friday, the apex also threatened to revoke licenses of microfinance banks dealing in foreign exchange (FX) transactions.


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