The Central Bank of Nigeria has directed all commercial banks, payment service banks, and other financial institutions across the country to immediately freeze the accounts, assets, and transactions of six individuals and four Bureau De Change operators linked to terrorism financing.
The directive was made public in a circular dated June 24, which stated that a recent update to the Nigeria Sanctions List had become legally binding on all regulated financial institutions for instant implementation.
Financial institutions are mandated to “identify and immediately freeze, without prior notice, all funds, assets, and other economic resources belonging to, owned, held, or controlled, directly or indirectly, by the designated persons and entities.”
The apex bank revealed that the action follows fresh sanctions issued jointly by the Nigeria Sanctions Committee and the United States Department of the Treasury’s Office of Foreign Assets Control under an amended executive order.
According to the regulatory document, the six individuals
This post was originally published on this site.
