The Central Bank of Nigeria, CBN, has instructed banks to vacate a post-no-debit restriction placed on under-listed bank accounts owned by individuals and companies.
Post-no-bill is the process whereby debit transactions are restricted, but the account can still receive inflows.
This was disclosed in a circular, signed by A.M. Barau on behalf of the CBN director of banking supervision, on Tuesday, 25th June.
The circular instructs banks to notify the 437 individuals including companies affected, of the new development, although the Apex bank did not state reasons for lifting the restrictions.
The circular reads, “You are hereby directed to vacate the Post-No-Debit restriction placed on the accounts of the under-listed bank customers at our instance.
“You are also required to inform the concerned customers of the vacation accordingly.”
Affected companies include Chaka Technologies Limited, abokiFX Limited, Nairabet International, Northwood Energy Services, Bamboo Systems Technology Limited, Escale Oil & Gas Limited, Rise Vest Technologies Limited, and Proport Marine Limited, amongst others.
