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Banks and other financial institutions across Nigeria have been ordered to immediately freeze all accounts, funds and assets belonging to six individuals and four Bureau de Change operators designated for terrorism financing, as regulators move to disrupt money channels linked to the Islamic State network. The directive came in a circular dated June 24, 2026,…
The Federal Government has directed banks and other regulated businesses to freeze the assets of suspected terrorism financiers, throwing Nigeria’s weight behind fresh United States sanctions on a Lagos-based ISIS facilitator and three bureaux de change. The Nigerian Sanctions Committee issued the directive on Tuesday, instructing financial institutions and designated non-financial businesses and professions…
A Nigerian national and three currency exchange firms operating in Lagos and Kano now sit on Washington’s terrorism blacklist, after the United States accused them of channelling funds for the Islamic State of Iraq and Syria through Nigeria’s bureau de change sector. The designations, announced on Monday, June 22, 2026, by the U.S. Department…
The Central Bank of Nigeria has extended the deadline for commercial banks to automate their anti-money laundering systems. Lenders now have 18 months to meet these baseline standards, while smaller financial institutions have two years. This shift moves the goalposts from a previously proposed 12-month window. The apex bank wants every transaction under its watch…
