The Nigerian government has released a list of fifteen entities believed to be involved in financing terrorism, comprising six Bureaux de Change (BDC) firms and nine individuals.
The disclosure was made by the Nigerian Financial Intelligence Unit (NFIU) in an email sent to The Punch on Tuesday, titled “Designation of Individuals and Entities for March 18, 2024.”
According to the report, the Nigeria Sanctions Committee convened on March 18, 2024, where it was proposed to sanction certain individuals and organizations for their purported involvement in funding terrorism.
Among the named individuals are:
- Tukur Mamu
- Yusuf Ghazali
- Muhammad Sani
- Abubakar Muhammad
- Sallamudeen Hassan
- Adamu Ishak
- Hassana-Oyiza Isah
- Abdulkareem Musa
- Umar Abdullahi.
The listed BDC firms include:
- West and East Africa General Trading Company Limited
- Settings Bureau De Change Limited
- G. Side General Enterprises
- Desert Exchange Ventures Limited
- Eagle Square General Trading Company Limited
- Alfa Exchange BDC
In accordance with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, institutions and individuals are mandated to freeze all funds, assets, and any other economic resources belonging to the designated persons and entities.
They are further required to report such actions to the Sanctions Committee and file Suspicious Transactions Reports to the NFIU for analysis on the financial activities of the designated individuals or entities.
The freezing obligation extends to all funds or assets owned or controlled by the designated persons and entities, including those not directly tied to a specific act, plot, or threat of terrorism. It also encompasses funds or assets derived from those owned or controlled by designated persons or entities, as well as assets of persons and entities acting on their behalf or at their direction.
