{"id":29604,"date":"2020-09-06T20:26:17","date_gmt":"2020-09-06T20:26:17","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=29604"},"modified":"2020-09-06T20:26:17","modified_gmt":"2020-09-06T20:26:17","slug":"nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches","title":{"rendered":"Nigeria Central Bank freezes 38 firms\u2019 accounts over forex breaches"},"content":{"rendered":"<p>Africa Press-Nigeria:<\/p>\n<p>The Central Bank of Nigeria (CBN) has directed all banks to initiate a post-no-debit (PND) on the bank accounts of 38 companies over alleged forex infractions among other violations. The affected bank accounts are mainly for bureau de change, betting and logistics companies, The Cable reports.<\/p>\n<p>According to CBN, the direction comes after the companies allegedly moved forex abroad unlawfully causing economic sabotage. According to the bank, the forex is a proceed of the black market a situation that impacted the exchange rate.<\/p>\n<p>CBN remains the biggest player in Nigeria\u2019s forex trading. The institution also regulates all forex trading in the country.<\/p>\n<p>According to the directive signed by CBN Director of Banking Supervision Bello Hassan:<\/p>\n<p>As per the directive, CNB ordered banks to submit names, addresses, and Bank Verification Numbers (BVNs) of all the exporters who have failed to repatriate their export proceeds.<\/p>\n<p>The development might lead to strict\u00a0<a href=\"https:\/\/finbold.com\/category\/regulations-news\/\">regulation<\/a>\u00a0on\u00a0<a href=\"https:\/\/finbold.com\/guide\/can-you-get-rich-by-trading-forex\/\">forex trading<\/a>\u00a0in Nigeria, a sector that has been on the rise. Nigeria ranks as one of the major hubs for forex trading in Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa Press-Nigeria: The Central Bank of Nigeria (CBN) has directed all banks to initiate a post-no-debit (PND) on the bank accounts of 38 companies over alleged forex infractions among other violations. The affected bank accounts are mainly for bureau de change, betting and logistics companies, The Cable reports. According to CBN, the direction comes after [&hellip;]<\/p>\n","protected":false},"author":62,"featured_media":12521,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[503,420],"class_list":["post-29604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cbn","tag-forex"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigeria Central Bank freezes 38 firms\u2019 accounts over forex breaches - Nigeria<\/title>\n<meta name=\"description\" content=\"Africa Press-Nigeria:The Central Bank of Nigeria (CBN) has directed all banks to initiate a post-no-debit (PND) on the bank accounts of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria Central Bank freezes 38 firms\u2019 accounts over forex breaches\" \/>\n<meta property=\"og:description\" content=\"Africa Press-Nigeria:The Central Bank of Nigeria (CBN) has directed all banks to initiate a post-no-debit (PND) on the bank accounts of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-06T20:26:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/2019\/07\/CBN-750x375.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alico\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"alico\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches\"},\"author\":{\"name\":\"alico\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"headline\":\"Nigeria Central Bank freezes 38 firms\u2019 accounts over forex breaches\",\"datePublished\":\"2020-09-06T20:26:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches\"},\"wordCount\":187,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/07\/CBN-750x375.jpg\",\"keywords\":[\"CBN\",\"FOREX\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/nigeria-central-bank-freezes-38-firms-accounts-over-forex-breaches\",\"name\":\"Nigeria Central Bank freezes 38 firms\u2019 accounts over forex breaches - 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