CBN MOVES AGAINST BANKS, GAMING COMPANIES OVER UNAUTHORISED FX TRANSFERS

THE CENTRAL BANK OF NIGERIA (CBN) HAS MOVED AGAINST SOME BANKS THROUGH WHICH SOME GAMING COMPANIES HAVE BEEN MAKING UNAUTHORISED FOREIGN EXCHANGE TRANSFERS ABROAD.

CONSEQUENTLY, THE APEX BANK HAS PLACED A POST-NO-DEBIT (PND) INSTRUCTION ON THE BANK ACCOUNTS OF 38 COMPANIES, INCLUDING PREMIER LOTTO LIMITED, SV GAMING LIMITED, R & S LOTTO LIMITED, OVER ALLEGATIONS OF FOREIGN EXCHANGE MANIPULATION.

APART FROM THE GAMING COMPANIES, THE CBN, HAS VOWED TO DEAL DECISIVELY WITH MANAGEMENT OF BANKS FOUND CULPABLE IN THE SHADY TRANSACTIONS.

THE APEX BANK, IT WAS LEARNT, HAS DECIDED TO PUT A STOP TO THE UNDERHAND DEALS IN THE INTEREST OF THE ECONOMY.