Government Identifies Terrorists’ Financiers, Freezes Funds, Assets And Other Revenue Channels {Full List}

Government Identifies Terrorists’ Financiers

 

 

OpenLife News reports that the Federal Government has directed capital market operators to immediately freeze the funds, assets and other economic resources belonging to 6 individuals and 3 entities designated as terrorist financiers by the Nigeria Sanctions Committee, NSC.

The directive was contained in a circular issued Friday by the Securities and Exchange Commission, SEC, to all Capital Market Regulated Entities, CMREs. The designations were made under the Terrorism Prevention and Prohibition Act, TPPA 2022.

Full List Of Designated Terrorist Financiers

According to the SEC, the following persons and companies have been placed on the sanctions list:

Individuals – 6

Babangida Muhammed Adamu Hammajam.

Listed June 18, 2026 for involvement in terrorism financing and support for Islamic State West Africa Province, ISWAP.

Abdullahi Umar Usman

Designated for providing material support to a designated terrorist organisation through repeated financial transactions.

Ibrahim Abubakar

Listed for involvement in terrorism financing and membership of ISWAP.

Adamu Chiroma

Designated for allegedly using Bureau De Change, BDC, operations and related corporate entities to facilitate movement of funds linked to terrorist activities.

Muktar Muhammad Adamu

Listed June 15, 2026 for providing financial support and facilitating transactions linked to the financing network of the ISWAP Okene cell.

Yakubu Ogirima Ibrahim

Designated for providing material and financial support to the ISWAP Kogi cell.

Entities – 3

The three entities are: Nine to Nine BDC Ltd, Generation Currency BDC Ltd and  Abbal Bako & Sons Bureau de Change

The 3 BDCs were listed for alleged involvement in facilitating and channelling funds connected to the ISWAP Okene financing network.

SEC Directives To Capital Market Operators

The SEC ordered CMREs to:
-Immediately identify and freeze, without prior notice, all funds, assets and economic resources belonging to the designated persons and entities.
-Report all frozen assets and compliance actions, including attempted transactions, to the Secretariat of the Nigeria Sanctions Committee.
-File suspicious transaction reports with the Nigerian Financial Intelligence Unit, NFIU for further analysis.
-Report all cases of name matches in financial transactions as suspicious, whether occurring before or after receipt of the sanctions list.
-Prohibit all dealings with the designated persons and entities and continue monitoring for transactions involving them.

Penalties For Non-Compliance

The circular takes immediate effect. The SEC warned that failure to comply constitutes a violation of the Investments and Securities Act, 2025 and the SECAML/CFT Rules and Regulations.

Violations could attract regulatory sanctions including fines, suspension of operations or revocation of registration.

“The commission further reminded capital market operators that all unusual or suspicious transactions must be promptly reported to the NFIU,” the circular stated.

The move is part of ongoing efforts by the government to dismantle the financial networks supporting terrorism and cut off revenue channels to groups like ISWAP operating in North Central Nigeria.