The Federal Government has released a fresh list of 15 individuals and companies accused of bankrolling terrorism across the country.
The announcement, which comes as part of Nigeria’s renewed push against extremist networks, marks one of the most decisive actions taken in the ongoing 2024 counter-terrorism campaign.
According to officials, the list emerged from an extensive security review carried out by multiple agencies tracking financial flows, logistics supply routes and cross-border transactions.
The review identified nine persons and six business entities believed to have provided financial support, material assistance or other enabling resources to terrorist groups operating both within and outside Nigeria.
Those named include Tukur Mamu, Yusuf Ghazali, Muhammad Sani, Abubakar Muhammad, Sallamudeen Hassan, Adamu Ishak, Hassana-Oyiza Isah, Abdulkareem Musa, and Umar Abdullahi.
In addition to the individuals, the government also listed several companies — many of them Bureau De Change operators and general trading outfits — suspected of linking transactions to terror-funding networks.
These firms are West & East Africa General Trading Company Limited, Settings Bureau De Change Ltd, G. Side General Enterprises, Desert Exchange Ventures Ltd, Eagle Square General Trading Company Limited, and Alfa Exchange BDC.
Security officials involved in the investigation described the move as the outcome of “months of intelligence tracking,” during which teams studied suspicious cash movements, analysed communication patterns, and coordinated with international partners.
The aim, according to one senior officer, is to “cut off the oxygen supply” that keeps extremist cells functioning.
Government authorities explained that the action is part of a broader national effort to tighten regulations in the financial sector, monitor high-risk money-changing activities, and reinforce military operations in areas affected by terrorism.
The Federal Government also hinted that this is only the first phase, as more names are being examined and could be added to the sanctions list in the coming months.
Officials emphasised that the crackdown does not stop at naming suspects. Agencies are now expected to implement restrictions, freeze accounts where necessary, and track any further movement linked to the identified individuals and firms.
In a related development, the government recently intensified oversight on BDC operations nationwide, following earlier reports exposing how unregulated currency trading has become a soft landing for illicit financing.
This latest announcement appears to be a continuation of that broader effort to block all financial pipelines that enable terrorist activities.