Fresh measures have been taken by the Nigerian government to curb terrorism financing, with six individuals and three companies placed on the national sanctions list.
The Nigerian Sanctions Committee says the designations were approved on June 18 and include Mukhtar Adamu, a Lagos-based bureau de change operator, along with Nine to Nine BDC Limited and Generation Currency BDC Limited.
The announcement comes shortly after the United States sanctioned Adamu and the two firms for their alleged involvement in facilitating financial transactions and money transfers for the Islamic State West Africa Province, ISWAP.
Secretary of the Nigerian Sanctions Committee, Beatrice Jedy-Agba, says the sanctions require all financial institutions and designated non-financial businesses to immediately identify and freeze any assets linked to the affected individuals and entities, and report such actions to the appropriate authorities.
Others named on the sanctions list are Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed Adamu Hammajam, and Abbal Bako & Sons Bureau De Change Limited.
The Federal Government says the sanctions are part of broader efforts to disrupt terrorism financing networks and strengthen compliance with anti-money laundering and counter-terrorism financing regulations.
Under the sanctions regime, the affected persons and entities face restrictions on access to assets and financial services, while institutions are expected to file suspicious transaction reports and comply with all reporting obligations.
