The Federal Government says terrorists and their financiers have no safe haven in Nigeria’s financial system.
This is contained in a statement issued by the Nigeria Sanctions Committee (NSC), released through the Nigeria Financial Intelligence Unit (NFIU), in Abuja on Wednesday.
The declaration followed sanctions imposed by the United States (U.S.) on two Bureau de Change (BDC) firms and an individual linked to terrorism financing.
The committee said that the sanctions reinforced measures already taken by the country which signals stronger cooperation to disrupt financial networks supporting terrorists and extremist groups.
The committee welcomed the decision of the U.S. Office of Foreign Assets Control (OFAC), which designated Mukthar Muhammad Adamu, Nine to Nine BDC Limited and Generation Currency BDC Limited.
The committee said that the three entities were included in an update to the country’s sanctions list published on June 18.
“Nigeria remains resolute in ensuring terrorists and their financiers find no safe haven within the country’s financial system,” the committee said.
It said that six individuals and three entities were listed following intelligence gathering, financial investigations and inter-agency assessments.
The committee said that investigations established reasonable grounds linking the affected persons and entities to Islamic State West Africa Province (ISWAP) and associated terrorist networks.
Those listed include Ibrahim Yakubu Ogirima, Muktar Muhammad Adamu, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman and Babangida Muhammed Adamu Hammajam.
Also listed were Abbal Bako and Sons Bureau De Change Limited, Generation Currency BDC Limited and Nine to Nine BDC Limited.
The Federal Government had directed financial institutions and designated non-financial businesses to comply fully with sanctions obligations.
The directive includes asset-freezing requirements, filing suspicious transaction reports and reporting relevant matches to appropriate authorities.
The committee commended the Federal Ministry of Justice and the Office of the National Security Adviser for supporting the sanctions process.
It also commended the Central Bank of Nigeria (CBN), Department of State Services (DSS), Economic and Financial Crimes Commission (EFCC) and NFIU for supporting anti-terrorism financing efforts.
According to the committee, the agencies helped deny terrorists organisations access to resources sustaining their operations.
The committee reiterated Nigeria’s commitment to working with local and international partners to combat terrorism financing.
It said that the government would continue safeguarding national security, strengthening financial integrity and supporting global counter-terrorism efforts. (NAN)
