>>> KINDLY HELP SHARE THIS STORY AFTER READING...
The Central Bank of Nigeria has frozen the bank accounts of 38 Nigerian companies.
SATURDAY FLAKES reports that This is as scarcity of dollars at the parallel market during the week forced the naira down to N465 against a United States dollar.
Nigeria is presently facing one of its biggest dollar crunch in recent years with the impact hurting critical sectors of the economy.
In a circular dated September 4, Bello Hassan, CBN’s Director of Banking Supervision, asked banks to place the accounts of the 38 companies on Post-No-Debit (PND) order
[READ ALSO] 2023: I'll build a 20th century economy of Nigerians make me President - Orji Uzor Kalu >>> https://www.newsflakes.com.ng//news/2023-i-ll-build-a-20th-century-economy-if-nigerians-make-me-president-orji-uzor-kalu-2777
“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 firstname.lastname@example.org,” part of the circular read.
SATURDAY FLAKES gathered that among the companies listed by CBN is Premier Lotto owned by Adebutu Kessington, Nigerian billionaire known as Baba Ijebu.
The move by the apex bank comes months after the Economic and Financial Crimes Commission launched an investigation into the activities of Adebutu for alleged tax fraud and economic sabotage.
READ ALSO: TUC, 79 others plan protests, strike over fuel price, electricity tariff hikes >>> https://www.newsflakes.com.ng//news/tuc-79-others-plan-protests-strike-over-fuel-price-electricity-tariff-hikes-2776
According to PREMIUM TIMES, Segun, one of Adebutu's children and other management officials of Premier Lotto were in January detained at the EFCC office in Lagos.
According to officials of the commission, the investigation was as a result of a petition submitted by Western Lotto, another betting company run by late Buruji Kashamu.
PREMIUM TIMES quoted EFCC sources as saying that they had identified N5bn revenue that should have been remitted to the Nigerian Government but was allegedly kept aside by the company.
The probe might be expanded to include other betting companies and investigate claims of sharp practices and how some firms allegedly withhold funds from winning customers.
▶️ What's Your Opinion About This Latest Development? Please, FEEL FREE to Share Your Thoughts With Us In The Comments Section Below!!
PLS HELP SHARE OUR UPDATES AFTER READING...
To Support Us with CASH & Other DONATIONS, Advertise or Publish a Story/Article on NEWS FLAKES NG: Kindly Contact Us via email@example.com,,,, Call or Whatsapp: 07039688614, 08096304429