Central Bank of Nigeria orders banks to freeze assets of terror‑financing suspects

The Central Bank of Nigeria (CBN) issued a circular on 24 June 2026 directing all banks, payment‑service banks and other regulated financial institutions to immediately freeze the accounts, assets and transactions of six individuals and several bureau de change operators designated for terrorism financing.

The sanctions, imposed jointly by the Nigerian authorities and the United States Treasury’s Office of Foreign Assets Control, list the individuals Muktar Muhammad Adamu, Babangida Muhammad Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma and Yakubu Ogirima Ibrahim, as well as bureau de change firms including Abbal Bako & Sons, Nine to Nine Exchange, Manhattan Bureau de Change and Generation Currency. The CBN instructed institutions to verify all client and transaction data against the updated Nigeria Sanctions List, submit suspicious‑transaction reports to the Financial Intelligence Unit, and provide compliance reports within 48 hours. Non‑compliance could attract regulatory penalties.

The Association of Bureau de Change Operators of Nigeria warned that the measures should not tarnish the majority of licensed operators, who it says comply with all laws.