The Central Bank of Nigeria (CBN) has asked banks to vacate a post-no-debit restriction placed on the bank accounts of 440 individuals and companies.
A post-no-debit means that all debit transactions, including ATMs and cheques, on the accounts, have been blocked but can receive inflows.
The circular, signed by A.M. Barau on behalf of the CBN director of banking supervision, on Tuesday, also instructed banks to inform the concerned customers of the vacation.
The apex bank did not state any reason for the action.
“You are hereby directed to vacate the Post-No-Debit restriction placed on the accounts ofthe underlisted bank customers at our instance,” the circular reads.
“You are also required to inform the concerned customers of the vacation accordingly.”
Source: Top Stories