The Central Bank of Nigeria has directed banks and financial institutions to immediately freeze assets held by terrorism financing suspects.
The move followed measures imposed by the Nigeria Sanctions Committee and the US Department of the Treasury’s Office of Foreign Assets Control.
The designated persons include Muktar Muhammad Adamu, Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma and Yakubu Ogirima Ibrahim.
The designated entities 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.
Banks are required to file Suspicious Transaction Reports within 48 hours and conduct comprehensive retrospective reviews. The EFCC is set to file charges against the suspects linked to ISIS.
ABCON called for increased vigilance in the operation and regulation of Nigeria’s financial system to protect it against terrorism financing.