FG Releases Updated List of 12 Nigerian Companies and Enterprises Financing Terrorism in 2026
- The Nigerian government released an updated list of 12 companies and enterprises designated as terrorism financiers in 2026
- The move formed part of the federal government’s wider strategy to combat terrorism financing and protect national security
- Authorities stressed that these sanctions aim to cut off financial support for groups threatening peace and stability
The federal government has published an updated list of Nigerian companies and enterprises sanctioned for terrorism financing in 2026.
This announcement is part of ongoing efforts to combat terrorism financing and strengthen national security.
Source: Twitter
According to NigSac, the updated list highlights businesses and ventures that have been sanctioned for their involvement in terrorism financing.
Authorities stated this step is crucial in cutting off financial support for groups that threaten peace and stability.
Official list of sanctioned entities
Here’s the list of the 12 Nigerian companies and enterprises designated as terrorism financiers according to NigSac:
- WEST AND EAST AFRICA GENERAL TRADING CO. LTD — March 18, 2024
- SETTINGS BUREAU DE CHANGE LTD — March 18, 2024
- G. SIDE GENERAL ENTERPRISES — March 18, 2024
- DESERT EXCHANGE VENTURES LIMITED — March 18, 2024
- EAGLE SQUARE GENERAL TRADING CO LTD — March 18, 2024
- ALFA EXCHANGE BDC — March 18, 2024
- Alin Yar Yaya General Enterprises — March 22, 2024
- K. Are Nigeria Limited — March 22, 2024
- Suhailah Bashir General Enterprises — March 22, 2024
- IGWE KA ALA ENTERPRISES — March 19, 2025
- SEFICUVI GLOBAL COMPANY — March 19, 2025
- LAKURAWA SECT — March 6, 2025
Officials emphasised that the move is part of a wider strategy to protect Nigeria’s financial system and national security. The designation of these companies as terrorism financiers means they are subject to sanctions, restrictions, and monitoring. It also serves as a warning to other businesses to ensure compliance with financial regulations and avoid links to illicit activities.
Nigeria, as a member of the United Nations, continues to uphold its pledge to international peace and security under the UN Charter. To strengthen this commitment, the country enacted the Terrorism (Prevention and Prohibition) Act, 2022, which created the Nigeria Sanctions Committee (NSC). This body is responsible for enforcing United Nations Security Council Resolutions (UNSCRs) on Targeted Financial Sanctions (TFS).
Targeted financial sanctions explained
Targeted Financial Sanctions are measures issued by the United Nations Security Council. They are designed to block individuals or organisations linked to terrorism, terrorism financing, or the spread of weapons of mass destruction (WMDS) from accessing funds, assets, equipment, or any form of support.
Source: Twitter
Role of the Nigeria Sanctions Committee
The Nigeria Sanctions Committee is chaired by the Honourable Attorney‑General of the Federation and Minister of Justice. It has the authority to create regulations, guidelines, and procedures to ensure UNSCRs are properly implemented in Nigeria. These rules apply to all individuals and organisations within the country.
Under Section 10 of the Terrorism (Prevention and Prohibition) Act, 2022, the NSC is empowered to enforce all UNSCRs listed in Schedule 1 of the Act. This includes UNSCR 1373 (2001), which focuses on preventing and suppressing terrorism financing worldwide.
List: 48 Nigerians sanctioned as terrorism financiers
Legit.ng earlier reported that the federal government published an updated list of Nigerians designated as terrorism financiers in 2026.
This move was part of ongoing efforts to combat terrorism financing and strengthen national security.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
