SEC directs freezing of assets linked to 9 terrorism financiers

The Securities and Exchange Commission (SEC) in Nigeria has directed capital market operators to freeze the assets and economic resources of six individuals and three entities designated as terrorist financiers by the Nigeria Sanctions Committee. The individuals include Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, Muktar Muhammad Adamu, and Yakubu Ogirima Ibrahim.

The three corporate bodies placed on the sanctions list are Nine to Nine BDC Ltd, Generation Currency BDC Ltd, and Abbal Bako & Sons Bureau de Change. This action comes in response to their alleged involvement in terrorism financing and support for the Islamic State West Africa Province (ISWAP). The SEC mandated capital market regulated entities to identify and freeze all listed assets without prior notice to the designated individuals or entities, and to submit full compliance reports to the Secretariat of the Nigeria Sanctions Committee.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.