Central Bank of Nigeria (CBN) has ordered banks, payment service banks and other financial institutions to immediately freeze all accounts, assets and transactions linked to six individuals and four Bureau De Change (BDC) operators designated for alleged terrorism financing.
Gatekeepers News reports that the directive was contained in a circular dated June 24, 2026, following an update to the Nigeria Sanctions List that took effect on June 18.
According to the apex bank, affected institutions are required to identify and freeze, without prior notice, all funds, assets and economic resources belonging to or controlled directly or indirectly by the designated persons and entities. The order also extends to companies or organisations that are at least 50 per cent owned by the sanctioned individuals.
CBN further directed financial institutions to report any assets frozen and file reports on attempted transactions linked to the affected individuals and entities in line with the country’s anti-money laundering and counter-terrorism financing regulations.
The action forms part of Nigeria’s efforts to strengthen its sanctions regime and curb the financing of terrorism through the financial system. Financial institutions have been instructed to ensure full compliance with the directive and related reporting obligations.
