The Central Bank of Nigeria (CBN) has directed deposit money 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.
In 2021, the CBN instructed banks to freeze the accounts of 18 companies, ranging from bureaux de change (BDCs), construction firms, investment companies, laundering services, and property companies.
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 were some of the affected companies.
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.
However, in a circular on Tuesday signed by A.M. Barau, director of banking supervision, the CBN also directed the banks to notify the concerned customers of the development.
It, however, did not state any reason for the action.
