The Central Bank of Nigeria (CBN) has issued a directive to banks to remove the post-no-debit restrictions placed on the bank accounts of 440 individuals and companies.
The post-no-debit restriction prohibits all debit transactions, including ATMs and cheques, on the affected accounts while still allowing inflows.
The circular, signed by A.M. Barau on behalf of the CBN Director of Banking Supervision, was issued on Tuesday and further instructed banks to promptly notify the concerned customers about the development. However, the CBN did not provide any specific reasons for taking this action.
Among the companies listed in the circular 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 several 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 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, Urban Laundry, and several others. All 18 companies have since had their bank accounts unfrozen by the CBN.
The CBN remains committed to ensuring financial stability and regulatory compliance in the country’s banking sector. The recent directive to lift the post-no-debit restrictions on the listed individuals and companies demonstrates the apex bank’s proactive approach to addressing pertinent issues promptly.
