CBN orders banks to block accounts of 18 companies

August 21, 2021

The Central Bank of Nigeria (CBN) has directed banks to block the accounts of eighteen companies under its watch list.

This was contained in a circular signed by the Director of Banking Supervision, CBN, Haruna Mustapha, dated August 18.

The affected companies are:

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  1. Bakori Mega Services,
  2. Ashambrakh General Enterprise,
  3. Namuduka Ventures Limited,
  4. Crosslinks Capital and Investment Limited,
  5. IGP Global Synergy Limited,
  6. Davedan Mille Investment Limited,
  7. Urban Laundry,
  8. Advanced Multi-Links Services Limited,
  9. Spray Resources,
  10. Al-Ishaq Global Resources Limited,
  11. Himark Intertrades,
  12. Charblecom Concept Limited,
  13. Wudatage Global Resources,
  14. Treynor Soft Ventures,
  15. Fyrstrym Global Concepts Limited,
  16. Samarize Global Nigeria Limited,
  17. Zahraddeen Haruna Shahru, and one unnamed other.

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The affected accounts, it was gathered, belong to bureau de change, construction firms, investment companies, laundering services, and property companies.

The  post-no-debit restriction implies that all debit transactions will be blocked though the accounts can still receive deposits.

The circular reads in part: “You are hereby directed to place all accounts of the under-listed customers on Post-No-Debit restriction.”

The report also notes that the apex bank did not provide any reason for the action in the circular.

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