The Central Bank of Nigeria, CBN, has directed 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 terrorism financing.
The directive was contained in a circular dated June 24, 2026 (Ref: CMD/FCS/PUB/CIR/002/011).
According to the apex bank, the latest update to the Nigeria Sanctions List, effective June 18, 2026, is binding on all regulated institutions and requires immediate implementation.
The CBN directed financial institutions 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.”
This comes after the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the sanctions on a Nigerian, Mukhtar Adamu, and three bureau de change companies over their
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