The Securities and Exchange Commission (SEC) has directed capital market operators to freeze assets linked to 10 individuals and three entities newly designated under Nigeria’s sanctions regime.
In a circular issued by the commission, the regulator said the action followed approval by the Nigeria Sanctions Committee in line with the Terrorism (Prevention and Prohibition) Act, 2022.
SEC said the affected persons and entities have been added to the Nigeria Sanctions List and are now subject to asset freezes, travel bans, and arms embargoes.
“All Capital Market Operators are required to immediately identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons and entities,” the commission said.
The regulator also directed operators to report all actions taken to the sanctions committee and file suspicious transaction reports with the Nigerian Financial Intelligence Unit (NFIU).
“CMOs are to immediately file a suspicious transactions report to the NFIU for further analysis on the financial activities of such individuals or entities,” the SEC added.
According to the circular, the freezing obligation extends beyond directly held assets to include funds owned jointly or indirectly, as well as those controlled through proxies.
“This freezing obligation extends to all funds or other assets owned or controlled by the designated persons or entities… including those acting on their behalf or at their direction,” the commission said.
SEC warned that non-compliance could expose institutions to criminal and civil liabilities, as well as reputational risks.
The commission added that the sanctions framework is a preventive mechanism designed to disrupt terrorism financing and related activities.
“All actions taken pursuant to this publication should be immediately communicated to the Secretariat of the Nigeria Sanctions Committee,” the capital market regulator said.
The directive comes amid intensified efforts by the federal government to clamp down on terrorism financing.
On April 11, 2026, the federal government released a list of 48 individuals and entities linked to terrorism financing, directing financial institutions to freeze their assets and report transactions.
The persons and entities are suspected to be involved in terrorism-related activities, with links to proscribed and extremist groups such as the Indigenous People of Biafra (IPOB), Ansarul Sudan (Ansaru), and the Islamic State West Africa Province (ISWAP).
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