FULL LIST: FG names nine persons, six BDC operators financing terrorism

The federal government has identified fifteen entities it believes are allegedly sponsoring terrorism. They consist of six businesses that operate Bureaux de Change and nine people.
The Nigerian Financial Intelligence Unit (NFIU), disclosed this in an email to The Punch on Tuesday. It was titled “Designation of Individuals and Entities for March 18, 2024.”

The report states that on March 18, 2024, the Nigeria Sanctions Committee convened. It was suggested at the discussion that certain people and organizations be sanctioned for their role in financing terrorism.

Those named in the document for financing terrorism include:

INDIVIDUALS

1. Tukur Mamu

2. Yusuf Ghazali

3. Muhammad Sani

4. Abubakar Muhammad

5. Sallamudeen Hassan

6. Adamu Ishak

7. Hassana-Oyiza Isah

8. Abdulkareem Musa,

9. Umar Abdullahi

BDC FIRMS

10. West and East Africa General Trading Company Limited

11. Settings Bureau De Change Limited

12. G. Side General Enterprises

13. Desert Exchange Ventures Limited

14. Eagle Square General Trading Company Limited

15. Alfa Exchange BDC.

The document further revealed that in accordance with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, institutions and individuals are required to:

“(a) Immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons and entities in your possession and report same to the Sanctions Committee;

“(b) Report to the Sanctions Committee any assets frozen or actions taken in compliance with the prohibition requirements.

“(c) Immediately file a Suspicious Transactions Report to the NFIU for further analysis on the financial activities of such an individual or entity; and

(d) Report as a Suspicious Transactions Report to the NFIU, all cases of name matching in financial transactions prior to or after receipt of this List.”It said: “The freezing obligation required above shall extend to“(a) All funds or other assets that are owned or controlled by the designated persons and entities, and not only those that are tied to a particular act, plot, or threat of terrorism or terrorism financing;“(b) Those funds or other assets that are wholly or jointly owned or controlled, directly or indirectly, by designated persons or entities;“(c) The funds or other assets derived or generated from funds or other assets owned or controlled directly or indirectly by designated persons or entities; and“(d) Funds or other assets of persons and entities acting on behalf of, or at the direction of designated persons or entities.”