CBN Freezes Bank Accounts Of ‘Baba Ijebu’, 37 Other Companies

CBN Freezes Bank Accounts Of ‘Baba Ijebu’, 37 Other Companies

The Central Bank of Nigeria (CBN) has instructed banks to place a post-no-debit on the bank accounts of 38 companies.

The affected accounts belong to betting companies, bureau de change companies and some logistics companies.

One of the companies, Premier Lotto, is owned by Adebutu Kessington, a Nigerian businessman popularly known as “Baba Ijebu”.

TheCable understands that the companies are being accused of forex infractions, moving forex abroad without the required authorisation and “economic sabotage”.

Sources told TheCable that one of the gaming companies moved $420 million abroad under the guise of purchasing software.

But the funds were later traced to the foreign accounts of some of the directors of the company.

“The forex was sourced from the black market, thereby putting pressure on the exchange rate. The gaming companies are awash with naira which sit in their bank accounts, so they devised a way of moving the funds abroad,” a source said.

The September 4 memo signed by Bello Hassan, director of banking supervision, read: “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”.

A post-no-debit means that all debit transactions, including ATMs and cheques, on the accounts have been blocked but money can be deposited into the accounts.

Some of the affected companies are Premier Lotto Limited, 3D Scanners Bureau De Change Limited, Blue Wall Nigeria Limited, JNFX International Limited and Northline Limited.

READ ALSO|Jonathan’s Weakness Killed Igbo Presidency – Frank Kokori

Others are SV Gaming Limited, R&S Lotto Limited, TM Gaming Networks Limited, Escale Oil and Gas Limited, Barkoli Trading Company Limited, Godoni Enterprises Limited.

The apex bank said only the listed companies should be placed on PND adding that all related accounts be excluded.

What do you think?

Leave a Reply

Your email address will not be published. Required fields are marked *

The Super Eagles of Nigeria could have another of their star in the Premier League if Ola Aina’s move goes through. Aina is on the verge of a return to England with Fulham who have kicked off talks with Torino. The Super Eagles defender has spent two seasons in Italy with Torino who finally splashed £9m on the defender from Chelsea last season. Fulham now want to bring the Nigerian back to England as they consider Aina an option to bolster their squad ahead of their Premier League return. According to Daily Mail, the newly-promoted Premier League Fulham have held talks with Torino over a move for the 23-year-old. Fulham want a loan move with an obligation to buy the Nigeria international next summer. Aina first joined Torino on loan and impressed in the 2018/2019 season but his level dropped the following season. SEE ALSO | Chelsea Boss Lampard Has Been Warned, Lose 17 Games This Season And Be Sacked’ A versatile player, the Nigerian has been used as a fullback on both sides.

Fulham Complete Agreement To Buy Super Eagles Defender Ola Aina

Solskjaer Gets Into Burst Up Confrontation With Man Utd Chiefs During Meeting

Solskjaer Gets Into Burst Up Confrontation With Man Utd Chiefs During Meeting