CBN ORDERS BANKS TO FREEZE SIX TERROR SUSPECTS’ ACCOUNTS

The Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions to freeze the accounts of six individuals identified as terror suspects as part of ongoing efforts to combat terrorism financing.

The directive is aimed at preventing the movement of funds that could be linked to terrorist activities and strengthening Nigeria’s anti-money laundering and counter-terrorism financing framework.

According to the CBN, financial institutions are expected to immediately comply with the order and report any related transactions to the appropriate regulatory and security authorities.

The measure forms part of broader efforts by the Federal Government to disrupt financial networks suspected of supporting terrorist and other criminal activities.

Security experts say freezing suspected accounts is a key tool used to limit the operational capacity of extremist groups by restricting access to financial resources.

The action also reflects Nigeria’s commitment to meeting international standards on combating money laundering and the financing of terrorism.

Banks have been reminded to strengthen customer due diligence, monitor suspicious transactions, and comply with existing regulatory requirements.

Analysts note that collaboration between financial institutions, security agencies, and regulatory bodies remains essential in identifying and preventing illicit financial activities.

Authorities emphasized that investigations into the affected individuals will continue in accordance with the law and due process.

The CBN reaffirmed its commitment to safeguarding the integrity of Nigeria’s financial system while supporting national and global efforts to combat terrorism financing.