The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to immediately freeze the accounts and assets of individuals and companies designated for terrorism and terrorism financing following fresh sanctions imposed by Nigerian and United States authorities.
The directive was contained in a circular dated June 24, 2026, issued by the CBN’s Compliance Department to all banks, Payment Service Banks, and other financial institutions regulated under the Banks and Other Financial Institutions Act (BOFIA) 2020.
According to the apex bank, the action follows recent sanctions designations by the Nigeria Sanctions Committee and the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) under Executive Order 13224, as amended, reports Daily Independent.
The CBN noted that the Nigeria Sanctions List was updated on June 18, 2026, stressing that the designations are binding and must be implemented immediately by all regulated institutions.
The sanctioned individuals are Muktar Muhammad Adamu, Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, and Yakubu Ogirima Ibrahim.
The regulator also named four Bureau de Change operators allegedly owned or controlled by the designated persons: Generation Currency Bureau de Change Limited, Manhattan Bureau de Change Limited, Nine to Nine Exchange Bureau de Change Limited, and Abbal Bako & Sons Bureau de Change Limited.
