The Central Bank of Nigeria (CBN) has instructed Deposit Money Banks (DMBs) operating in the country to place a post-no-debit on the bank accounts of 18 companies.
With this development, the affected firms would not be able to make any withdrawal transactions, including ATMs and cheques, on the accounts, but can receive inflows.
The apex made this disclosure in a circular, signed by Director of Banking Supervision, Haruna B. Mustapha, while instructing the lenders to send details of the accounts.
Last year, CBN also instructed banks to freeze accounts of 38 companies, including premier Lotto, owned by Adebutu Kessington, a Nigerian businessman popularly known as “Baba Ijebu”.
“You are hereby directed to place all accounts of the under-listed customers on Post-No-Debit (PND) restriction,” the circular reads.
The affected companies include 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.
Others are Advanced Multi-Links Services Limited, Spray Resources, Al-Ishaq Global Resources Limited, Himark Intertrades, Charblecom Concept Limited, Wudatage Global Resources.
Also included are Treynor Soft Ventures, Fyrstrym Global Concepts Limited, Samarize Global Nigeria Limited, and Zahraddeen Haruna Shahru.
The apex bank did not state any reason for the action.
The affected accounts belong to Bureaux De Change (BDCs), construction firms, investment companies, laundering services, and property companies.
Similarly, the central bank a few days ago approached the Federal High Court in Abuja to freeze the accounts of Rise Vest Technologies Limited, Bamboo Systems Technology Limited, Bamboo Systems Tech. Ltd OPNS, Chaka Technologies Limited, CTL/Business Expenses, and Trove Technologies Limited.
The companies were accused of operating without a licence as asset management companies and utilising foreign exchange sourced from the Nigerian market to purchase foreign bonds/shares in contravention of CBN’s directives.
Rise Vest was also accused of trading cryptocurrencies after the CBN banned financial institutions in Nigeria from doing so earlier this year.
The court ordered a 180-day freeze on the bank accounts of the affected companies, pending the outcome of CBN’s investigation.
In a swift reaction to the court order, Rise Vest assured its customers that funding and withdrawals will continue to be processed as normal.
“We will work with regulators, as we always have to ensure that all issues raised are properly addressed.
“However, this does not affect our users or their investments, which are managed by regulated third parties in all jurisdictions in which we operate,” the company said in an email to customers on Tuesday night.
Bamboo also said its legal and government relations team are already working to resolve the dispute.
“Your money remains safe with Bamboo and will always be readily accessible,” the company assured customers.
Justice Ahmed Mohammed, who delivered Tuesday’s ruling, asked aggrieved parties to approach the court to seek redress.
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