CBN lifts ban on Bamboo, Nairabet, AbokiFX others’ bank accounts

The Central Bank of Nigeria has ordered that the four-hundred and forty individuals and businesses’ bank accounts that were placed under a post-no-debit restriction, be removed by banks.

The businesses affected by this instruction include Bamboo Investment, AbokiFX and NairaBet.

Others are 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, Advanced Multi-Links Services Limited, Spray Resources, Al-Ishaq Global Resources Limited, Himark Intertrades, Charblecom Concept Limited, and Wudatage Global Resources.

Also Treynor Soft Ventures, Fyrstrym Global Concepts Limited, Samarize Global Nigeria Limited, and Zahraddeen Haruna Shahru were also included.

A post-no-debit is when all debit transactions—including those made with ATMs and cheques—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 clients to the change.

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 enterprises.

18 companies that were affected by this instruction now have their their bank accounts unfrozen.