Abuja, Nigeria – Nigeria’s Securities and Exchange Commission has ordered an immediate asset freeze of 13 newly designated alleged terrorism-linked entities across the capital market, following their addition to the Nigeria Sanctions List by the Nigeria Sanctions Committee.
Okay News reports that the directive, issued to capital market operators on April 13, is anchored on provisions of the Terrorism (Prevention and Prohibition) Act, 2022, which mandates the immediate freezing of all funds, assets, and economic resources linked to the named persons and organisations without prior notice. The list includes ten individuals and three corporate entities.
The individuals named are Abdurrahaman Musa Ado, Bashir Ali Yusuf, Ibrahim Ali Alhassan, Muhammad Ibrahim Isah, Salihu Yusuf Adamu, Surajo Abubakar Mohammad, Fannami Alhajj Bukar, Muhammed Musa, Sahabi Ismail, and Mohammed Saleh Buba. The three corporate entities are Alin Yar Yaya General Enterprises, Are Nigeria Limited, and Suhailah Bashir General Enterprises.
Details accompanying the designation reveal that several of the individuals were convicted by the Abu Dhabi Federal Court of Appeal in April 2019 for terrorism financing activities linked to Boko Haram, with offences involving collecting funds in Dubai and transferring them to Nigeria to support terrorist operations. The three entities are directly linked to promoters already convicted of terrorism-related crimes.
The asset freeze applies broadly to assets directly or indirectly owned or controlled by designated persons, jointly owned assets, proceeds derived from such assets, and assets held by third parties acting on behalf of designated individuals. Capital market operators are required to file Suspicious Transaction Reports with the Nigerian Financial Intelligence Unit and maintain continuous monitoring.
This asset freeze directive reflects Nigeria’s ongoing efforts to align with global financial integrity standards and disrupt financial support systems for terrorism.
