Nigerian Sanctions Committee Identifies Individuals and Entities Involved in Terrorism Financing

In a significant move aimed at curbing terrorism financing, the Nigerian Sanctions Committee has unveiled a list of nine individuals and six entities recommended for sanctions due to their alleged involvement in supporting terrorist activities.

The Nigerian Financial Intelligence Unit reportedly listed the identity of the 15 entities, including nine individuals and six Bureau De Change (BDC) operators and firms, according to The PUNCH.

The newspaper said NFIU documents showed that the Nigeria Sanctions Committee met on March 18, 2024, and specific individuals and entities were recommended for sanction following their involvement in terrorism financing.

“The Honourable Attorney General of the Federation, with the approval of the President, has thereupon designated the following individuals and entities to be listed on the Nigeria Sanctions List,” the document read in part.

Topping the list of individuals is Kaduna-based publisher Tukur Mamu, currently facing trial for purportedly aiding terrorists in the Abuja-Kaduna train attack of March 2022. According to the committee’s document obtained by Punch, Mamu stands accused of facilitating ransom payments exceeding $200,000 US to ISWAP terrorists, contributing to the release of hostages from the said attack.

Furthermore, one of the named individuals is suspected to have carried out the St. Francis Catholic Church Owo attack in Ondo State on June 5, 2022, and the assault on Kuje Correctional Centre in Abuja on July 5, 2022. Another individual is identified as a financial courier for ISWAP Okene, responsible for disbursing funds to the families of terrorist fighters.

The document reveals damning financial transactions allegedly linked to some individuals. One individual is said to have transferred N60 million to terrorism convicts in 2015, along with receiving N189 million between 2016 and 2018. Additionally, the same individual’s entities are reportedly implicated in facilitating the transfer of terrorist funds from Dubai to Nigeria, as per a UAE court judgment.

Another individual on the list is reported to have managed substantial financial transactions, with inflows totaling N61.4 billion and outflows of N51.7 billion from their accounts.

The sanctions also target six businesses, including West and East Africa General Trading Company Limited, Settings Bureau De Change Limited, and Eagle Square General Trading Company Limited, among others.

The agency said the individual “came into limelight in 2012 as North Central wing of Boko Haram.

“The group is suspected of the attacks carried out around Federal Capital Territory and the South West Geographical Zone, including the June 5, 2022 attack on St. Francis Catholic Church, Owo, Ondo State.”

Another was described as “a financial courier to ISWAP Okene. She is responsible for the disbursement of funds to the widows/wives of the terrorist fighters of the group.”

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 “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.”

Source: Channels TV

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