CBN steps up offensive against forex manipulators
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Some of the affected companies include Premier Lotto Limited, SV Gaming Limited, R & S Lotto Limited, over allegations of foreign exchange manipulation.
The CBN has also threatened to sanction the banks found to have aided the companies in effecting the illegal forex transfer.
One of the banks was accused of facilitating the transfer of about $420 million abroad without lawful authority. Its management has since been queried.
The apex bank, it was learnt, has decided to put a stop to the underhand deals in the interest of the economy.
While going hard on the defaulting companies, the apex bank CBN, in a September 4 letter addressed to all banks, signed by Hassan Bello, director of banking supervision, directed that the bank accounts of the 38 banks should be frozen.
The affected firms are Over the Top Entertainment Limited, Beaufortbet Nigeria Limited, TM Gaming Network Limited, Fumsky Bureau De Change, 3D Scanners Bureau De Change, Blue Sleevers Bureau De Change Limited, Maiburgama Bureau De Change Limited, Upront Movers Limited, Pocasharks Ventures, Incel Trading & Supplies Limited and Savvy Corp Limited.
Also on the list are Barkoli Trading Company Limited, Comm. Professional Limited, Blue Wall Nigeria Limited, JNFX International Limited, Suxus General Trading Limited, Escale Oil & Gas Limited, Triune Resources & Energy Limited, Exchange Telecommunications Limited, Vingt Communications Limited, Incel Mega Resources Limited, Camberwell Logistics Limited, Godoni Enterprises Limited, and Crescentpillars Investment Limited.
Others are Carisbrooke Global Enterprises, Nitegale Global Resources Limited, Northline Limited, Befour Energy & Allied Services Limited, Tasmara Integrated Services Limited, Incel Integrated Services Limited, Laketrail Investment Limited, Tamrose Ventures Limited, Roots Mining Company Limited, Rapid International Procurement Limited, and Springcreek Capital Limited.
Shedding more light on the reason for freezing the bank accounts of the 38 companies, a top CBN official, who pleaded to remain anonymous, accused them of illegal purchase of forex and repatriation of same abroad.