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 using checks and ATMs—on the accounts have been stopped but inflows are still permitted.
The directive, which was issued by A.M. Barau on Tuesday on behalf of the CBN director of banking supervision, also directed banks to inform the affected clients of the situation.
The apex bank gave no justification for the decision.
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.”
The CBN gave banks instructions in 2021 to freeze the accounts of 18 businesses, including bureaux de change, construction companies, investment firms, money-laundering services, and real estate enterprises.
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 among the businesses that were impacted.
Al-Ishaq Global Resources Limited, Spray Resources, Himark Intertrades, Charblecom Concept Limited, and Wudatage Global Resources were some of the others.
They also included Zahraddeen Haruna Shahru, Fyrstrym Global Concepts Limited, Treynor Soft Ventures, and Samarize Global Nigeria Limited.
The apex bank has unfrozen the bank accounts of all 18 businesses.
