Nigeria and U.S. Sanction Firms Over Terror Financing

Nigeria’s Financial Intelligence Unit, acting on the Nigeria Sanctions Committee, designated six individuals and three companies for suspected terrorism financing under the Terrorism (Prevention and Prohibition) Act and UN resolutions. The agencies ordered the immediate freezing of all assets and economic resources linked to the designated parties and instructed financial institutions and designated non‑financial businesses to comply.

The United States Treasury’s Office of Foreign Assets Control (OFAC) simultaneously imposed sanctions on the same Lagos‑based bureau de change operator and associated firms, aligning with the Nigerian authorities. The Central Bank of Nigeria directed all banks to freeze accounts tied to the sanctioned entities, reinforcing the coordinated crackdown across West Africa, Europe and the Middle East targeting funds for ISIS and ISWAP.