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.
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.
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.
