According to Daily Post, the Central Bank of Nigeria (CBN) has directed banks, payment service banks, and other regulated financial institutions to immediately freeze the bank accounts, assets, and financial transactions of six individuals and several Bureau De Change (BDC) operators over alleged involvement in terrorism financing.
The instruction was contained in a circular dated June 24, 2026, with reference number CMD/FCS/PUB/CIR/002/011. The apex bank explained that the directive followed the latest update to the Nigeria Sanctions List, which became effective on June 18, 2026, making compliance mandatory for all institutions under its regulatory oversight.
Under the directive, financial institutions were ordered to identify and freeze, without prior notice, all funds, assets, and economic resources owned, held, or controlled—either directly or indirectly—by the designated individuals and organisations. The circular stated..CONTINUE FULL READING>>>
