Nigeria's Securities and Exchange Commission has frozen assets held by 13 entities across the capital market following terrorism-financing designations. The SEC issued a compliance directive to all capital market operators after 10 individuals and three entities received blacklist status under Nigeria's sanctions framework.
The asset freeze targets financial holdings tied to the designated parties. Capital market operators must implement the freeze immediately and ensure no transactions occur involving the frozen accounts or assets. The directive requires operators to report compliance to the SEC.
The action represents an enforcement effort to disrupt alleged terrorism financing networks operating through Nigeria's financial markets. The SEC's move follows official designations that identified the individuals and entities as posing national security threats. Market participants face regulatory penalties for non-compliance with the asset freeze order.