Regulatory Alerts2008-10-17 | TED-FEM-FPC-GEN-01-110-08Directive to Forward the Account Details of the Following Illegal Fund Managers/"Wonder Banks" to the CBN
This circular issued on October 15, 2008 instructs all Nigerian banks to promptly provide the Central Bank of Nigeria with detailed information about any accounts linked to a list of 28 illegal fund managers and "Wonder Banks" they have come across. The required details include account numbers, number of accounts held, branches where these accounts were opened, the names and addresses of the signatories to the accounts, as well as their respective account balances on certain specified dates. It emphasizes that banks should also report any related accounts owned by these entities or individuals within a 7-day timeframe.
09-61636401, 09-61636404 09-61635433, 09-61636418 BSD/DIR/CIR/GEN/Vol.2/015 October 15, 2008 CIRCULAR TO ALL BANKS IN NIGERIA DIRECTIVE TO FORWARD THE ACCOUNT DETAILS OF THE FOLLOWING ILLEGAL FUND MANAGERS/"WONDER BANKS" TO THE CBN You may recall that the Securities and Exchange Commission (SEC) had obtained a favourable judgment by the Investments and Securities Tribunal (IST) against the following companies: 1. Art Master & Co. Ltd; 2. Cyber International Ltd; 3. Fortune Access Interlinks Network; 4. Gold Power Unique Services Ltd; 5. Gorutrans Nigeria Co. Ltd; 6. Interglobal Investment Ltd; 7. Money Field Ltd; 8. New Freedom Diversified Investment Ltd; 9. Open Gate Multipurpose Investors Ltd; 10. Orion Express Global Services Ltd; 11. Pennywise Investment Ltd; 12. Positive Move International Nigeria Ltd; 13. Precious Golden Profile; 14. Real and Cool Wealth International Ltd; 15. Shola Olanrewaju Ayinke (Sefteg Nigeria Company); 16. Silvertrust Global Investment; 17. Successpoint International Investment Ltd; 18. Torid Investment Ltd; 19. Treasured Fund Assets Ltd; 20. Vikel Petroleum Ltd; 21. Wealth Concepts Global Ltd; 22. Wealthgage Multibiz Int. Ltd; 23. Wealth Interlink Agency Ltd; 24. Wealth Solution Ltd; 25. Wealth Transfer and Logistic Ltd; 26. Wilson O. Wilson (Doing business in the name and style of Wilamas Ventures) 27. Wisdom Investments Nigeria Ltd; and 28. Nospetco Oil and Gas Ltd. You are please requested to forward to us the account details of the above listed companies from 4 th December, 2007 to date. The details should include the account numbers, number of accounts held, branches they were opened, names and addresses of the signatories to the accounts, the balances as at 4/12/07; 31/12/07 and 30/9/08. You are however required to provide a NIL return where no account has been opened in your bank in any of the above names. Similar information should also be provided on related accounts to these companies, their owners and operators to avoid any type of information-gap. Your response should reach the Director of Banking Supervision within 7 days (22 nd October, 2008) of the date of this Circular.
T. A. IKUYEJU FOR: DIRECTOR OF BANKING SUPERVISION