The federal government of Nigeria has wielded the big stick against terrorism financing by designating 17 individuals and organizations fingered as funders of terrorist activities, ordering the immediate freezing of their financial assets.
According to an official document, the Nigeria Sanctions Committee finalized the list during a meeting on March 6, 2024, following recommendations from the Attorney General of the Federation.
The list was subsequently approved by the President.
Among those captured in the Nigeria sanctions list are Simon Ekpa, Godstime Promise Iyare, Francis Mmaduabuchi, John Onwumere, Chikwuka Eze, Edwin Chukwuedo, Chinwendu Owoh, Ginika Orji, Awo Uchechukwu, and Mercy Ebere Ifeoma Ali.
Others include Ohagwu Juliana, Eze Okpoto, Nwaobi Chimezie, Ogomu Kewe, Igwe Ka Ala Enterprises, Seficuvi Global Company, and Lakurawa Group.
Meanwhile, as stipulated under Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, the sanctions require:
1. The immediate identification and freezing of all funds, assets, and economic resources belonging to the designated persons and entities.
2. Financial institutions to report any frozen assets or compliance actions to the Sanctions Committee.
3. The submission of Suspicious Transaction Reports (STR) to the Nigerian Financial Intelligence Unit (NFIU) for further investigation.
4. Name-matching checks on financial transactions to detect potential links to terrorism financing.
The directive mandates that all financial accounts, payment platforms, and banking instruments linked to the listed individuals and organizations be frozen without prior notice.
However, the restrictions also extend to accounts linked to the signatories and directors of the designated companies to ensure full enforcement.
The Nigeria Sanctions Committee has instructed financial institutions and relevant agencies to comply with the sanctions and submit enforcement reports via the official emails: secretariat@nigsac.gov.ng and info@nigsac.gov.ng.