• Wednesday, April 24, 2024
businessday logo

BusinessDay

Updated: FG reveals 15 terrorism financiers, BDCs

The counterterrorism questions and agonies of the layman

The Federal Government has identified 15 entities linked to terrorism financing, including nine individuals and six Bureau De Change operators.

The Nigerian Financial Intelligence Unit disclosed this in an email sent to The Punch on Tuesday titled “Designation of Individuals and Entities for March 18, 2024.”

The document showed that the Nigeria Sanctions Committee on March 18, 2024, recommended sanctions for certain individuals and entities due to their involvement in terrorism financing.

“The Honourable Attorney General of the Federation, with the approval of the President, has thereupon designated the following individuals and entities to be listed on the Nigeria Sanctions List,” the document read in part.

The document includes Tukur Mamu, a Kaduna-based publisher, who is being tried for supporting terrorists responsible for the Abuja-Kaduna train attack in March 2022. Mamu allegedly facilitated terrorism financing by handling ransom payments totaling $200,000 for ISWAP terrorists.

The list also mentions an individual linked to attacks on St. Francis Catholic Church, Owo and the Kuje Correctional Center. Another individual, associated with Ansarul Muslimina Fi Biladissudam and Al-Qaeda in the Islamic Maghreb, is known for creating terrorist communication codes and expertise in Improvised Explosive Devices. He also served as a gatekeeper to ANSARU leader Mohammed Usman and fled the Kuje correctional center.

Another person is a senior commander of the Islamic State of West Africa Province Okene, recognised since 2012 as part of Boko Haram’s North Central wing, is suspected of orchestrating attacks in the Federal Capital Territory and South West Geographical Zone.

The document also identified a financial courier for ISWAP Okene, responsible for distributing funds to the group’s fighters’ widows and wives. One individual transferred N60m to terrorism convicts in 2015 and received N189m between 2016 and 2018. This person also owns businesses implicated in a UAE court judgment for transferring terrorist funds.

Another individual received N57m between 2014 and 2017, while another had a total inflow of N61.4 bn and outflow of N51.7bn from their accounts.

The nine individuals under sanctions are
1. Tukur Mamu
2. Yusuf Ghazali
3. Muhammad Sani
4. Abubakar Muhammad
5. Sallamudeen Hassan
6. Adamu Ishak
7. Hassana-Oyiza Isah
8. Abdulkareem Musa,
9. Umar Abdullahi

The six BDCs and firms are
10. West and East Africa General Trading Company Limited
11. Settings Bureau De Change Limited
12. G. Side General Enterprises
13. Desert Exchange Ventures Limited
14. Eagle Square General Trading Company Limited
15. Alfa Exchange BDC.

In line with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, institutions and individuals are required to do the following:

“(a) immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons and entities in your possession and report same to the Sanctions Committee;

“(b) report to the Sanctions Committee any assets frozen or actions taken in compliance with the prohibition requirements.

“(c) immediately file a Suspicious Transactions Report to the NFIU for further analysis on the financial activities of such an individual or entity; and

“(d) report as a Suspicious Transactions Report to the NFIU, all cases of name matching in financial transactions prior to or after receipt of this List. ”

It said the “The freezing obligation required above shall extend to

“(a) all funds or other assets that are owned or controlled by the designated persons and entities, and not only those that are tied to a particular act, plot, or threat of terrorism or terrorism financing;

“(b) those funds or other assets that are wholly or jointly owned or controlled, directly or indirectly, by designated persons or entities;

“(c) the funds or other assets derived or generated from funds or other assets owned or controlled directly or indirectly by designated persons or entities; and

“(d) funds or other assets of persons and entities acting on behalf of, or at the direction of designated persons or entities.”