The Central Bank of Nigeria (CBN) has given an ultimatum to banks in the country to produce account statements of some betting company owners on or before 4:00 pm on Wednesday, September 16.
Recall that 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 over forex infractions.
Among the companies listed by CBN is Premier Lotto owned by Adebutu Kessington, Nigerian billionaire known as Baba Ijebu.
Also affected are Adebutu’s sons, as well as some bureau de change and logistics companies.
The companies are being accused of forex infractions, moving forex abroad without the required authorization and “economic sabotage.”
A betting company reportedly moved $420million abroad under the pretext of software purchase.
But the funds were traced to the foreign accounts of its directors.
The new directive demanding the account statements of the affected businesses and individuals was contained in a statement on Tuesday by Z. Markus, on behalf of Director of Banking Supervision, Bello Hassan.