BusinessNewsCBN Direct Banks to Block Accounts of 18 Firms

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ABUJA — The Central Bank Of Nigeria (CBN) has directed banks to forthwith place a post-no-debit on the bank accounts of 18 companies.

The instruction from the apex bank was issued on Thursday in a circular signed by Haruna B. Mustapha, director of banking supervision.

A post-no-debit (PND) is a restriction on bank account which blocks all debit transactions including the use of automated teller machines (ATMs) and cheques.

However, money can be deposited into the account.

The directive prevents any money from going out of the 18 affected accounts and any transaction related such as ATM cards, checks, credit card transactions, and so on are not allowed.

“You are hereby directed to place all accounts of the under-listed customers on Post-No-Debit (PND) restriction,” the circular said.

The affected accounts belong to bureaux de change (BDCs), construction firms, investment companies, laundering services, and property companies.

Some of the 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, Multi-Links Services Limited, Spray Resources, Al-Ishaq Global Resources Limited, Himark Intertrades, Charblecom Concept Limited, Wudatage Global Resources.

Others are Treynor Soft Ventures, Fyrstrym Global Concepts Limited, Samarize Global Nigeria Limited, and Zahraddeen Haruna Shahru.

It is not clear why the debit freeze was placed on all 18 accounts as the apex bank did not state the reason for the action.

Beloved John (Staff Writer)

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