CBN Freezes Accounts Of Baba Ijebu, 37 Other Companies Over Forex Infractions

The Central Bank of Nigeria (CBN) has ordered banks to block bank accounts of 38 companies over FOREX infractions.

Prominent among the companies affected is Premier Lotto owned by Adebutu Kessington, a Nigerian businessman popularly known as “Baba Ijebu.”

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Some of the offences being alleged by CBN include; forex infractions, moving forex abroad without the required authorisation and “economic sabotage.”

The accounts of these companies have been blocked, however, money can be deposited into the accounts.

Some of the affected companies are Premier Lotto Limited, 3D Scanners Bureau De Change Limited, Blue Wall Nigeria Limited, JNFX International Limited, Northline Limited, V Gaming Limited, R&S Lotto Limited, TM Gaming Networks Limited, Escale Oil and Gas Limited, Barkoli Trading Company Limited, and Godoni Enterprises Limited.