TheCable

The Central Bank of Nigeria (CBN) has asked banks to vacate a post-no-debit restriction placed on the bank accounts of 440 individuals and companies.

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 A.M. Barau on behalf of the CBN director of banking supervision, on Tuesday, also instructed banks to notify the concerned customers of the development.

The apex bank did not state any reason for the action.

The companies on the list include Bamboo Systems Technology Limited, Escale Oil & Gas Limited, Rise Vest Technologies Limited, Chaka Technologies Limited, abokiFX Limited, Nairabet International, Northwood Energy Services, Proport Marine Limited, among others.

“You are hereby directed to vacate the Post-No-Debit restriction placed on the accounts ofthe underlisted bank customers at our instance,” the circular reads.

“You are also required to inform the concerned customers of the vacation accordingly.”

In 2021, CBN instructed banks to freeze accounts of 18 companies, ranging from bureaux de change (BDCs), 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, Wudatage Global Resources.

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

All the 18 companies have had their bank accounts unfrozen by the apex bank.