CBN revokes ban on Bamboo, 437 accounts, Nairabet, AbokiFX

The 440 individuals and businesses’ bank accounts were placed under a post-no-debit restriction, which the Central Bank of Nigeria has ordered banks to remove.

A post-no-debit is when all debit transactions—including those made with ATMs and checks—are prohibited on the accounts but inflows are still permitted.

A.M. Barau, who signed the circular on Tuesday on behalf of the CBN director of banking supervision, also gave banks instructions on how to alert affected customers to the development.

The action was taken without a justification from the apex bank.

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 are just a few of the businesses on the list.

You are hereby instructed to remove the Post-No-Debit restriction put in place at our request on the accounts of the under-listed bank customers, according to the circular.

“You must also appropriately notify the affected customers of the vacation.”

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The CBN gave banks instructions in 2021 to freeze the accounts of 18 businesses, including money-changing bureaus, construction companies, investment firms, money-laundering services, and real estate firms.

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.