By Ikugbadi Oluwasegun
The Federal Government says it will continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing.
The government welcomes the recent designation of one Mukthar Muhammad Adamu, Nine to Nine BDC and Generation BDC Limited, and six others by the United States Office of Foreign Assets Control (OFAC) on the sanctions list.
These designations follow the inclusion of Adamu, his companies, and others as part of a broader update to the Nigeria sanctions list approved.
The naming of the three companies and six persons followed extensive intelligence gathering, financial investigations and inter-agency assessments which established reasonable grounds to believe that the affected individuals and entities allegedly facilitated, financed, supported or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.
The Federal Government reiterates its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of suspicious transaction reports and the reporting of all relevant matches to the appropriate authorities.
The development is to curb illicit financial flows.
