The Federal Government has welcomed the decision by the United States Office of Foreign Assets Control (OFAC) to sanction a Nigerian national and three Bureau de Change (BDC) operators over alleged terrorism financing.
In a statement issued by the Nigeria Sanctions Committee, the government said the sanctions align with Nigeria’s ongoing efforts to disrupt the financial networks supporting terrorism.
“The recent US designations followed the inclusion of the affected individuals and entities on Nigeria’s Sanctions List.”
According to the committee, the sanctions were based on intelligence gathering, financial investigations and inter-agency assessments linking the affected individuals and companies to the financing of the Islamic State West Africa Province (ISWAP) and related terrorist networks.
The government urged banks and other designated financial institutions to continue complying with all sanctions obligations, including freezing affected assets and reporting suspicious transactions.
The committee also commended agencies including the Federal Ministry of Justice, Office of the National Security Adviser, Central Bank of Nigeria (CBN), Department of State Services (DSS), Economic and Financial Crimes Commission (EFCC) and the Nigerian Financial Intelligence Unit (NFIU) for their efforts in combating terrorism financing.
“Nigeria remains committed to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.”
The Federal Government reaffirmed its commitment to working with both local and international partners to strengthen national security and prevent the financing of terrorist activities.
Source: Nigeria Sanctions Committee
