BREAKING: Terrorism Financing: CBN orders Nigerian banks to freeze assets of six persons, four BDCs

The Central Bank of Nigeria, CBN has directed banks, outgo work banks, and different fiscal institutions to instantly frost each accounts, assets, and transactions linked to six individuals and 4 Bureau de Change, BDC operators designated for coercion financing.

The directive was contained successful a circular dated June 24, 2026 (Ref:CMD/FCS/PUB/CIR/002/011).

According to the apex bank, the latest update to the Nigeria Sanctions List, effectual June 18, 2026, is binding connected each regulated institutions and requires contiguous implementation.

The CBN directed fiscal institutions to “identify and instantly freeze, without anterior notice, each funds, assets, and different economical resources belonging to, owned, held, oregon controlled, straight oregon indirectly, by the designated persons and entities.”

This comes aft the United States Department of the Treasury’s Office of Foreign Assets Control OFAC, announced the sanctions connected a Nigerian, Mukhtar Adamu, and 3 bureau de alteration companies implicit their alleged engagement successful financing the violent group Islamic State West Africa Province (ISWAP).

In a followup, the Nigerian authorities released the names of six persons and 3 entities sanctioned for coercion financing. 

The Federal Government database indicated Ibrahim Ya...