FG Freezes Assets Of Six Individuals, Three Entities Over Terrorism
The Securities and Exchange Commission has ordered operators in Nigeria’s capital market to freeze the funds, assets and other economic resources linked to six individuals and three companies listed as terrorism financiers by the Nigeria Sanctions Committee.
The directive took effect immediately and requires all capital market-regulated entities to search their records and identify accounts, investments, funds or other assets connected to the listed individuals and organisations.
Any assets found are to be frozen without giving prior notice to the affected parties.
The SEC issued the directive through a circular signed by its management and published on its official website.
The commission said the action was based on the Terrorism (Prevention and Prohibition) Act 2022 and the Nigeria Sanctions List.
The six individuals named in the directive are Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, Muktar Muhammad Adamu and Yakubu Ogirima Ibrahim.
The three entities affected by the directive are Nine to Nine BDC Ltd, Generation Currency BDC Ltd and Abbal Bako & Sons Bureau de Change.
The SEC also ordered capital market operators to stop providing services or carrying out transactions for the listed persons and entities.
Operators are expected to keep monitoring their transactions and report any attempt to move or access frozen funds.
