The Central Bank of Nigeria (CBN) has directed all banks and financial institutions to freeze accounts associated with individuals and organizations suspected of financing terrorism.
The directive forms part of broader efforts by Nigerian authorities to strengthen measures against terrorism financing, money laundering, and other illicit financial activities.
Under the order, financial institutions are required to identify affected accounts and immediately restrict transactions pending further regulatory and security reviews. The move is intended to prevent the movement of funds that could be used to support terrorist activities.
The CBN emphasized the need for strict compliance with existing anti-money laundering and counter-terrorism financing regulations, warning institutions against any failure to adhere to the directive.
Analysts say the action reflects Nigeria’s commitment to international standards on combating terrorism financing and protecting the integrity of the financial system.
The apex bank is expected to continue working closely with security agencies and relevant stakeholders to monitor compliance and strengthen the country’s financial security framework.
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