Abuja, Nigeria – The Federal Government has directed banks, financial institutions, and other designated businesses across the country to immediately freeze the funds, assets, and economic resources of individuals and entities linked to terrorism financing as part of efforts to strengthen Nigeria’s fight against terrorism.
The directive was issued through the Nigerian Sanctions Committee (NSC), which instructed all financial institutions and relevant stakeholders to fully implement sanctions measures against designated terrorism financiers. The order requires institutions to identify, freeze, and report any accounts, funds, or assets connected to persons or organizations listed under Nigeria’s sanctions regime.
According to the government, the move is aimed at disrupting financial networks that provide support for terrorist activities and ensuring compliance with both national and international anti-terrorism financing regulations.
The NSC stated that affected institutions must immediately file reports on any identified assets and submit Suspicious Transaction Reports (STRs) where necessary. Financial institutions were also warned against facilitating any transactions involving sanctioned individuals or entities.
The latest action follows a series of measures by Nigerian authorities to curb terrorism financing. In recent months, both Nigerian and international agencies have imposed sanctions on several individuals and organizations accused of providing financial support to terrorist groups operating within and outside the country.
