SEC Orders Capital Market Operators to Freeze Assets Traced to 9 Terrorism Financiers
• Admits blockchain into its accelerated regulatory incubation programme Ndubuisi Francis in Abuja and Emma Okonji in Lagos The Securities and Exchange Commission (SEC) has directed Capital Market Operators (CMOs) to
The Securities and Exchange Commission (SEC) has directed Capital Market Operators (CMOs) to freeze assets linked to six individuals and three entities on the Nigeria Sanctions List, in line with the Terrorism Prevention and Prohibition Act (TPPA) 2022. The individuals and entities, including Babangida Muhammed Adamu Hammajam and Nine to Nine Bureau De Change (BDC) Ltd, were designated by the Nigeria Sanctions Committee (NSC) for their involvement in terrorism financing and support for the Islamic State West Africa Province (ISWAP).
The SEC's action marks the Commission's commitment to Nigeria's broader expansion across Africa, as it has admitted blockchain into its Accelerated Regulatory Incubation Programme (ARIP). The directive requires CMOs to immediately identify and freeze all funds, assets, and economic resources belonging to the designated persons and entities, reporting the actions to the NSC's Secretariat.
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