The Central Bank of Nigeria has issued an urgent mandate to all financial entities, including banks and payment service providers, to instantly lock all accounts and assets associated with six individuals and four Bureau de Change operators accused of funding terrorism. This order, formalized in a circular dated June 24, 2026, requires universal compliance with the updated Nigeria Sanctions List.
Financial institutions are required to seize all funds and economic resources owned or managed by these designated parties without giving advance warning. This enforcement action follows sanctions previously imposed by the United States Treasury Department against Nigerian national Mukhtar Adamu and three other exchange companies for their alleged ties to the Islamic State West Africa Province.
Following the international action, the Nigerian government officially named the targets of the local sanctions. The list includes individuals such as Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed, and Adamu Hammajam, alongside entities like Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited, and Nine to Nine BDC Limited. Aminu Gwadebe, president of the Association of Bureau De Change Operators of Nigeria, emphasized that these accusations should not cast doubt on the integrity of the broader industry, noting that most operators continue to adhere strictly to national regulations.
