• Latest
  • Trending

CBN freezes accounts of 38 firms over forex infractions

5 months ago

EFCC arrests 11 Suspected Internet Fraudsters in Osogbo

19 mins ago

British Police raid wedding party with 400 guests

36 mins ago

Tension in Igangan, Oyo State as Igboho arrives at expiration of ultimatum to Fulanis’

2 hours ago

NASU/ SSANU start indefinite strike with effect from Friday 5th February 2021

3 hours ago

BREAKING: NASU, SSANU to begin indefinite strike February 5

3 hours ago

FG set to expand National Reference Laboratory at NCDC – VP Osinbajo

6 hours ago

BREAKING: Real Madrid coach Zidane tests positive for COVID-19

6 hours ago

Gani Adams backs Governor Akeredolu on quit order to criminals in Ondo State

6 hours ago

Arsenal sign goalkeeper on loan

6 hours ago

New retirement age for teachers takes effect Jan. 1 – Minister

6 hours ago

Bandits abduct Katsina Village Head, injure brother

7 hours ago

COVID-19: Governors’ Forum disassociates from Yahaya Bello’s statement

7 hours ago
  • HOME
  • ADVERT RATE
  • Privacy Policy
  • CONTACT US
TVC News
  • Home
  • News
  • Business
  • Politics
  • Sports
  • Entertainment
  • Shows
  • Video
No Result
View All Result
Friday, January 22, 2021
Livestream
Advertise Here
TVC News
No Result
View All Result

CBN freezes accounts of 38 firms over forex infractions

September 6, 2020
in Business, News, Nigeria
1 min read
Share on FacebookShare on Twitter

The Central Bank of Nigeria has directed banks to freeze the accounts of 38 companies operating in the country.

The development was confirmed in a circular signed by the CBN’s Director of Banking Supervision, Bello Hassan.

The apex bank in the circular directed commercial banks to place the accounts of the 38 companies on “Post No Debit”order.

This means that all debit transactions, including ATMs, credit cards and cheques, on the accounts are prevented from going out of the bank account.

This happens for some reasons such as fraud suspicions in most cases or on the side of the financial institution an error in terms of payment.

Advertisement

When this happens investigations may need to be conducted and neccessary actions would be considered. If the financial institution is satisfied then the block will be removed.

The CBN circular reads, “You are hereby required to place the under listed accounts on Post-No-Debit with immediate effect and revert with the account names, numbers, currencies and balances of all accounts placed on PND.

“Note that only the listed entities should be placed on PND, all related accounts are excluded. Your response should be forwarded to the underlisted email addresses Osoladipo@cbn.gov.ng or moabeng@cbn.gov.ng.’’

According to a report, the affected accounts belong to betting companies, bureau de change companies and some logistics companies.

The report stated that the companies were being accused of forex infractions, moving forex abroad without the required authorisation and “economic sabotage.”

Advertisement
Tags: BanksCBNForex
SendShareTweetShare

Related Posts

Business

CBN must review Foreign Exchange policy to improve dollar supply- LCCI

2 weeks ago
Business

CBN releases new categorisation for payment system in Nigeria

1 month ago
Business

Nigeria’s foreign reserves fall to $35.689bn in October

3 months ago
Business

CBN injects liquidity as naira continues to surge

5 months ago
Business

CBN sets capital base of N5bn for mobile money licenses

5 months ago
Business

CBN sets capital rules for mobile money licences

5 months ago




TVC News Nigeria

© 2020 TVC News
First with Breaking News
All Rights Reserved

Navigate Site

  • HOME
  • ADVERT RATE
  • Privacy Policy
  • CONTACT US

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • Politics
  • Sports
  • Entertainment
  • Shows
  • Video

© 2020 TVC News
First with Breaking News
All Rights Reserved

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

quality online essay writing service