FG Backs U.S. Sanctions on Nigerians, BDC Operators Over Alleged Terror Financing
FG Backs U.S. Sanctions on Nigerians, BDC Operators Over Alleged Terror Financing
The Federal Government has expressed support for the recent sanctions imposed by the United States on several Nigerians and Bureau De Change (BDC) operators accused of facilitating terrorism financing and other illicit financial activities.
The government said the sanctions reinforce Nigeria’s commitment to combating terrorism financing, money laundering and other financial crimes that threaten national and global security.
In a statement, the Federal Government described the action by U.S. authorities as a significant step in the global fight against illicit financial networks, stressing that Nigeria will continue collaborating with international partners to identify, investigate and prosecute individuals and organisations involved in funding terrorism.
Officials noted that the affected individuals and Bureau De Change operators were sanctioned for allegedly providing financial services and support to terrorist organisations, violating international counter-terrorism regulations.
The government reaffirmed its commitment to strengthening Nigeria’s anti-money laundering framework through closer cooperation among security agencies, financial regulators and international institutions. It added that ongoing reforms are aimed at improving transparency in the financial sector while preventing criminal groups from exploiting legitimate financial channels.
Authorities also urged financial institutions, Bureau De Change operators and other stakeholders to strictly comply with existing regulations, including customer due diligence and suspicious transaction reporting requirements.
The Federal Government maintained that combating terrorism financing remains a key component of its national security strategy and pledged continued collaboration with global partners to disrupt illicit financial networks and safeguard the country’s financial system.
