The Central Bank of Nigeria (CBN) has directed banks and other financial institutions across the country to immediately freeze accounts and assets linked to six individuals and four Bureau de Change operators accused of involvement in terrorism financing activities, Peak Newspaper reports.
The directive, issued through a circular signed by the CBN Director of Compliance, Olubunmi Ayodele-Oni, followed fresh sanctions imposed by the Nigeria Sanctions Committee (NIGSAC) and the United States Department of the Treasury under its anti-terrorism framework.
According to the apex bank, the affected individuals are Muktar Muhammad Adamu, Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma and Yakubu Ogirima Ibrahim. Four Bureau de Change firms allegedly linked to them were also placed under sanctions.
The companies named are Generation Currency Bureau de Change Limited, Manhattan Bureau de Change Limited, Nine to Nine Exchange Bureau de Change Limited, and Abbal Bako & Sons Bureau de Change Limited. The CBN said all regulated institutions must enforce the sanctions without delay.
Banks were instructed to screen customers, account holders, beneficial owners and financial transactions against the updated sanctions list. They are also required to freeze all funds, assets and economic resources connected to the designated persons or businesses, including companies in which the suspects hold significant ownership interests.
The CBN further ordered financial institutions to report any confirmed matches to the Nigerian Financial Intelligence Unit (NFIU) and submit compliance reports within 48 hours. The regulator warned that failure to comply with the directive or submission of false information could attract sanctions under existing banking laws.
