The Central Bank of Nigeria has directed banks, payment service banks and other financial institutions to immediately freeze all accounts, assets and transactions. The apex bank described the measure as an important message to regulated entities.
According to the directive, the freeze applies to accounts, assets and transactions linked to six individuals and four bureaux de change. These have been designated in connection with terrorism financing.
The instruction is contained in a circular dated June 24, 2026. In the circular, the CBN informed the regulated entities of fresh sanctions that had been issued.
The sanctions were issued by the Nigeria Sanctions Committee and the United States Department of the Treasury's Office of Foreign Assets Control. They fall under Executive Order 13224, as amended.
According to the apex bank, the latest update to the Nigeria Sanctions List took effect on June 18, 2026. The CBN said this update is binding on all regulated institutions and requires immediate implementation.
The directive forms part of measures aimed at tackling terrorism financing through the country's financial system. The CBN has instructed the affected institutions to act on the order without delay.