FG Sanctions 19 Terrorism Financiers, Including BDC Firms, in Major Crackdown

The Nigerian government has identified and sanctioned 19 terrorism financiers, including six Bureau De Change (BDC) firms, according to a document obtained by PREMIUM TIMES. The identities of these individuals and entities were revealed by the Nigeria Sanctions Committee (NSC), headed by the Attorney General of the Federation. The sanctioned individuals and firms are accused of financing terrorism in various ways, including receiving and delivering ransom payments to support terrorist activities.

Among the named financiers is Tukur Mamu, a Kaduna-based publisher, who allegedly participated in the financing of terrorism by receiving and delivering ransom payments in support of ISWAP terrorists. Other named individuals include Abdulsamad Ohida, Mohammed Abdurrahaman, Fatima Ishaq, Yusuf Ghazali, and several others, who are alleged to have played roles in financing terrorist activities.

The NSC also named six firms involved in terrorism financing, including West and East Africa General Trading Co. Ltd, Settings Bureau De Change Ltd, and Desert Exchange Ventures Limited. These firms are accused of transferring funds to individuals involved in terrorist activities, as detailed in the report.

The sanctions imposed by the Nigerian government include freezing all funds, assets, and economic resources belonging to the designated persons and entities. The government has also directed that all financial institutions immediately freeze the assets of the sanctioned individuals and report any suspicious transactions to the Nigeria Financial Intelligence Unit (NFIU).

The sanctions are part of the government’s efforts to combat terrorism financing and ensure national security. However, the move has sparked controversy, with critics questioning the effectiveness of the sanctions and raising concerns about due process and transparency in the designation process.

Premium Times