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Abokifx, Bamboo, Nairabet — CBN Unfreezes Bank Accounts Of 440 Persons, Companies

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Abokifx, Bamboo, Nairabet — CBN Unfreezes Bank Accounts Of 440 Persons, Companies
Abokifx, Bamboo, Nairabet — CBN Unfreezes Bank Accounts Of 440 Persons, Companies

The Central Bank of Nigeria (CBN) has instructed banks to lift the post-no-debit restrictions on the bank accounts of 440 individuals and companies.

Post-no-debit restrictions block all debit transactions, including ATMs and cheques, on the affected accounts while allowing them to receive inflows.

A circular signed by A.M. Barau on behalf of the CBN director of banking supervision was issued, instructing banks to inform the concerned customers about the development.

However, the reason behind the CBN’s action was not stated in the circular.

Among the companies listed are Bamboo Systems Technology Limited, Escale Oil & Gas Limited, Rise Vest Technologies Limited, Chaka Technologies Limited, abokiFX Limited, Nairabet International, Northwood Energy Services, Proport Marine Limited, and 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.”

In 2021, the CBN ordered banks to freeze the accounts of 18 companies, including bureaux de change (BDCs), construction firms, investment companies, laundering services, and property companies. Some of the affected companies were Bakori Mega Services, Ashambrakh General Enterprise, Namuduka Ventures Limited, Crosslinks Capital and Investment Limited, IGP Global Synergy Limited, Davedan Mille Investment Limited, Urban Laundry, and others.

Now, all 18 companies have had their bank accounts unfrozen by the apex bank.

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