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CBN Lifts Ban On Bamboo, Nairabet, AbokiFX, 437 Accounts
The Central Bank of Nigeria (CBN) has directed 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 […]
The Central Bank of Nigeria (CBN) has directed 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.
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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 and Proport Marine Limited, among others.
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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.”
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Photo Credit: Getty