The Central Bank of Nigeria (CBN) has issued a directive to banks to lift the post-no-debit restrictions on the bank accounts of 440 individuals and companies.
The post-no-debit restriction blocks all debit transactions, including ATMs and cheques, while allowing inflows into the accounts. The circular, signed by A.M. Barau on behalf of the CBN director of banking supervision, also requires banks to inform the affected customers of this development.
The reason for the action was not specified in the communication. Some of 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, and Proport Marine Limited, among others.
The circular read, “You are hereby directed to vacate the Post-No-Debit restriction placed on the accounts of the under-listed bank customers at our instance.
“You are also required to inform the concerned customers of the vacation accordingly.”
Recall In 2021, the Central Bank of Nigeria (CBN) issued instructions to banks to freeze the accounts of 18 companies spanning bureaux de change, construction firms, investment companies, laundering services, and property companies.
The affected companies comprised 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.
Additionally, Advanced Multi-Links Services Limited, Spray Resources, Al-Ishaq Global Resources Limited, Himark Intertrades, Charblecom Concept Limited, and Wudatage Global Resources were also impacted.
The list further included Treynor Soft Ventures, Fyrstrym Global Concepts Limited, Samarize Global Nigeria Limited, and Zahraddeen Haruna Shahru.
