July 26, 2023/CBN

In its latest regulatory step, the Central Bank of Nigeria (CBN) has instructed banks to vacate “Post-No-Debit” restriction placed on 440 accounts of customers.

This covers individual and corporate accounts across the country. In a letter signed by the Director of Banking Supervision of CBN, the banks have been directed to inform the affected customers of the latest development.

A post-no-debit means that all debit transactions on the accounts, including ATMs and cheques, have been blocked but can receive inflows.

By this Letter, the CBN has ordered the banks to remove the restrictions on the affected customers’ accounts.

The reason for the vacation of the post-no-debit restrictions by the CBN was not stated in the letter.

Some of the companies affected by the directive of the CBN include Nairabet, Chaka Technologies, Bamboo Systems Technologies and Aboki FX.

The companies in the list cover Oil and Gas, Logistics, Technology, Energy, Trade and Financial Services sectors.