The Central Bank of Nigeria (CBN), has directed banks to lift the post-no-debit restrictions that were previously imposed on the bank accounts of 440 individuals and companies.
The post-no-debit restriction had blocked all debit transactions, including those made through ATMs and cheques, but allowed for inflows to be received.
The directive was communicated through a circular signed by A.M. Barau on behalf of the CBN’s director of banking supervision on Tuesday.
The circular also instructed banks to inform the affected customers about the removal of the restriction. However, the CBN did not provide any specific reason for taking this action.
The list of companies affected by the post-no-debit restriction includes 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. The reasons behind the initial imposition of the restriction and subsequent removal have not been disclosed by the CBN.
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.
In 2021, the Central Bank of Nigeria (CBN), had given instructions to banks to freeze the accounts of 18 companies. These companies belonged to various sectors, including bureaux de change, construction firms, investment companies, laundering services, and property companies. The freezing of their accounts was part of the CBN’s measures to investigate and address potential financial irregularities and ensure compliance with regulations within the financial sector.
The affected companies included 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 were Advanced Multi-Links Services Limited, Spray Resources, Al-Ishaq Global Resources Limited, Himark Intertrades, Charblecom Concept Limited, and Wudatage Global Resources.
Treynor Soft Ventures, Fyrstrym Global Concepts Limited, Samarize Global Nigeria Limited, and Zahraddeen Haruna Shahru were also included.
