Capital market operators in Nigeria have been ordered to freeze the assets of six individuals and three entities designated as terrorist financiers.
The Securities and Exchange Commission issued the directive in a circular signed on June 26, 2026, and published on its website. The SEC said the Nigeria Sanctions Committee placed the individuals and entities on the Nigeria Sanctions List under the Terrorism Prevention and Prohibition Act 2022.
The affected individuals are Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, Muktar Muhammad Adamu and Yakubu Ogirima Ibrahim.
The listed entities are Nine to Nine BDC Ltd, Generation Currency BDC Ltd and Abbal Bako & Sons Bureau de Change.
The commission directed regulated operators to immediately identify and freeze their funds, assets and other economic resources without prior notice.
Operators must report frozen assets and attempted transactions to the Nigeria Sanctions Committee, while suspicious transactions are to be reported to the Nigerian Financial Intelligence Unit. The SEC also prohibited dealings with the designated persons and entities and ordered continued monitoring of related transactions.
The directive takes immediate effect. The commission warned that non-compliance could attract fines, suspension of operations or revocation of registration.
According to the SEC, the individuals and entities were designated over alleged involvement in terrorism financing and financial or material support for ISWAP-linked networks.
