Banks in the country have been directed by the Central Bank of Nigeria (CBN), to submit statements of domiciliary accounts of some high profile individuals, including owners of popular betting companies.
CBN issued the directive in a September 15, 2020 letter signed by Z. Markus for the director of banking supervision.
“You are required to furnish us with the domiciliary account statements (Excel and PDF formats) of the under listed individuals, including the domiciliary accounts linked to them by bank verification number (BVN). The statements should cover the period, January 1, 2013, to July 31, 2020,” the letter read.
This comes after the apex bank instructed banks to place a post-no-debit instruction on the accounts of 38 companies including betting companies, bureau de change companies and some logistics companies.
The business of sports betting in Nigeria is thriving, about the fastest growing sector in Nigeria today.
A most recent data indicates that over 60 million Nigerians between the ages of 18 and 40 spend as much as N2.8 billion daily on gambling in the sport betting with most of the money going into illegal financial transactions, a development which may have attracted CBN’s intervention.