# Nigeria terrorism financing asset freezes

> Live situation record from CLSTR: https://clstr.news/situations/nigeria-terrorism-financing-asset-freezes
> Updated: 2026-08-15T06:00:20.000Z. Sources: 10. Developments: 2.

The Nigerian Securities and Exchange Commission (SEC) has directed capital market operators to immediately freeze all funds, assets, and economic resources belonging to six individuals and three entities designated as terrorist financiers.

The Nigeria Sanctions Committee (NSC) identified the individuals as Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, Muktar Muhammad Adamu, and Yakubu Ogirima Ibrahim. The designated entities are Nine to Nine BDC Ltd, Generation Currency BDC Ltd, and Abbal Bako & Sons Bureau de Change.

Under the Terrorism Prevention and Prohibition Act (TPPA) 2022, these parties are alleged to have facilitated transactions and provided material support to the Islamic State West Africa Province (ISWAP), specifically targeting its Okene and Kogi financing cells. Regulated entities are required to act without prior notice and report all compliance actions and suspicious transactions to the NSC Secretariat and the Nigerian Financial Intelligence Unit (NFIU).

## Claims

- The SEC directed capital market operators to freeze assets belonging to six individuals and three entities. (corroborated by 3 sources)
- The Nigeria Sanctions Committee designated the six individuals and three entities as terrorist financiers. (corroborated by 3 sources)
- The directive was issued via a circular to all Capital Market Regulated Entities (CMREs). (corroborated by 3 sources)
- The asset freeze is being conducted in accordance with the Terrorism Prevention and Prohibition Act (TPPA) 2022. (corroborated by 3 sources)
- Babangida Muhammed Adamu Hammajam was designated for alleged involvement in terrorism financing and support for ISWAP. (corroborated by 3 sources)
- The three designated entities are Nine to Nine BDC Ltd, Generation Currency BDC Ltd, and Abbal Bako & Sons Bureau de Change. (corroborated by 3 sources)
- The three entities were allegedly involved in channeling funds to the ISWAP Okene financing network. (corroborated by 2 sources)
- Capital Market Regulated Entities must freeze all identified funds and assets without prior notice. (corroborated by 2 sources)

## Timeline

### 2026-08-15: Nigeria SEC orders asset freeze on six individuals and three terrorism financiers

Nigeria's SEC has ordered the immediate freezing of assets belonging to six individuals and three entities designated as terrorist financiers by the Nigeria Sanctions Committee.

7 sources. https://clstr.news/cluster/nigeria-sec-orders-asset-freeze-on-six-individuals-and-three-terrorism-financiers

### 2026-08-13: Nigeria SEC orders asset freeze for suspected terrorism financiers

Nigeria's SEC has ordered an immediate freeze of assets belonging to six individuals and three Bureau de Change entities accused of financing terrorism linked to ISWAP.

3 sources. https://clstr.news/cluster/nigeria-sec-orders-asset-freeze-for-suspected-terrorism-financiers

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Cite as: Nigeria terrorism financing asset freezes. CLSTR, https://clstr.news/situations/nigeria-terrorism-financing-asset-freezes