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    Yahoo boys launder money for ‘politically exposed persons’ – EFCC boss

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    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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Home Markets Forex

List of companies under CBN investigation for forex infractions

Monday, 21 September 2020, 12:36 pm
in Forex, Markets
0
List of companies under CBN investigation for forex infractions
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The Central Bank of Nigeria has launched investigation into the foreign exchange dealings of more than 55 companies and individuals.

This is the Apex bank’s latest move as it clamps down on those it says abuse foreign exchange in the country as pressure mounts on the nation’s currency.

The apex bank linked the firms to foreign exchange deals outside the official Investors & Exporters (I&E) window according to Vanguard.

Whereas CBN recognizes that certain little payments of sums below $10,000 could be made for travels, school/boarding fees, subscription, fees, hospital bills among others with little or no documentation, the source said some unscrupulous companies had hidden under this guise to illegally transfer/repatriate huge sums of forex out of the country without following laid down rules and regulations of CBN according to Thisday.

CBN is investigating the avenues through which the companies source forex that they eventually sell to counterparties, who buy and repatriate the funds otherwise known as free funds.

Read also; FG Survival Fund for MSMEs – How and when to Register

Aioon Energy Limited, Cowry Assets Management Limited, Everdon Nigeria Limited, Caml Bureau De Change and Everdon Bureau De Change are among those listed by Thisday to be under CBN investigation. Some other individuals whose accounts are being scrutinized include: Mr. Okechukwu Ezeh, Mr. Adamu Ezeh and Mr. Adebutu Bankole.

According to the list reported by Vanguard, Stallion Nigeria Limited, a conglomerate involved is among those being investigated. The list also includes the electronic payment company, Interswitch Nigeria Limited, as well as CMA CGM Nigeria Shipping Limited.

The 55 companies as listed by Vanguard are;

  1. Stallion Nigeria Limited
  2. Solem Agro Limited
  3. Deekay & Sons Limited
  4. Hana Nigeria Limited
  5. Emel Nigeria Limited
  6. Sonnex Nigeria Limited
  7. Montana Nigeria Limited
  8. Daraju Nigeria Limited
  9. Dasco Nigeria Limited
  10. Savvy Corps Limited
  11. Pan-Cat Nigeria Limited
  12. Mustafa-Multipurpose Services
  13. Olayfis Global Resources Limited
  14. Pals Interchange Concept Limited
  15. 2015 Petroleum & Investments Limited
  16. Manann Nigeria Limited
  17. Brollo Pipe & Profile Ind. Limited
  18. Altrunk Nigeria Limited
  19. Dartford Energy Services Limited
  20. Global Links Ventures Limited
  21. Elemental Integrated Associates
  22. New Home Distribution (Africa)
  23. ACCI Ventures (Nig) Limited
  24. Dover Engineering Limited
  25. John Kell & Associate Nigeria
  26. Maaway Ventures Limited
  27. Good Metal Enterprises
  28. Medlog Logistics Services Limited
  29. Interswitch Nigeria Limited (Dollar Acct)
  30. Beirut Hill Construction Limited
  31. CMA CGM Nigeria Shipping Limited
  32. Agrinexus International Limited
  33. Sylvangel Maritime Resources Limited
  34. Unimer SRL Limited
  35. SCIB Nigeria & Company Limited
  36. Domenik LLC 37. Petro-Afrique Energy Services
  37. Silver Dome Enterprises Limited
  38. Ajibola Bankole Adebutu
  39. Petro-Afrique Energy Services Limited
  40. Steel Force Far East Limited
  41. Stemcor London Trading Limited
  42. Fix Nigeria Limited
  43. SA Turutu International Ent
  44. New Brand Metals Global Limited Ventures
  45. Auto Petroleum Company Limited
  46. Cavendish Mechanicals Limited
  47. Aquashield Oil & Marine Limited
  48. Haitch & Elf Integrated Services Limited
  49. Fenog Nigeria Limited
  50. Promasidor Nigeria Limited
  51. Hatford Resources Nigeria Limited
  52. Don & Chyke Nigeria Limited
  53. BCL Trading Services Limited
  54. Omniworx Export Enterprises

Written by;

Ifunanya Ikueze

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