The Central Bank of Nigeria has ordered banks to remove a post-no-debit restriction that had been put in place on the bank accounts of 440 people and businesses.
A post-no-debit situation occurs when all debit transactions—including those made with checks and ATMs—on the accounts have been stopped but inflows are still permitted.
The directive, which was signed by A.M. Barau on Tuesday on behalf of the CBN director of banking supervision, also directed banks to inform the affected customers of the development.
The apex bank gave no justification for the decision.
This list of businesses includes, among others, 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.
“You are hereby directed to remove the Post-No-Debit restriction placed on the accounts of the under-listed bank customers at our request,” the circular stated.
You must also alert the affected customers to the appropriate vacation.
In 2021, the Central Bank of Nigeria (CBN) gave banks instructions to freeze the accounts of 18 businesses, including money changers, construction companies, investment firms, money-laundering services, and real estate firms.
There were a number of businesses that were impacted, including 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.
Advanced Multi-Links Services Limited, Spray Resources, Al-Ishaq Global Resources Limited, Himark Intertrades, Charblecom Concept Limited, and Wudatage Global Resources were among the others.
Additionally included were Treynor Soft Ventures, Fyrstrym Global Concepts Limited, Samarize Global Nigeria Limited, and Zahraddeen Haruna Shahru.
The apex bank has released the frozen bank accounts of all 18 companies.
