List of companies under CBN investigation for forex infractions

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.

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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