The Federal Government, on Saturday, finally published a list of 48 individuals and groups allegedly financing terrorism in Nigeria.
The list, which was released by the Nigeria Sanctions Committee (NIGSAC) on Saturday, contains names of individuals and entities suspected of involvement in terrorism-related activities, including persons linked to Ansaru, Islamic State West Africa Province (ISWAP) and the Indigenous People of Biafra (IPOB).
Nigeria enforces the UN Security Council sanctions list but also has an independent list of designations.
On 12th May, 2022, President Muhammadu Buhari passed the Terrorism (Prevention and Prohibition) Act, 2022 (TPPA) into law and on the same day, the Attorney-General of the Federation issued a Regulation for the Implementation of Targeted Financial Sanctions Related to Terrorism, Terrorism Financing and Other Related Matters, 2022.
The law gave Nigeria a legal framework for the implementation of United Nations Security Council Resolutions (UNSCRs) related to counter-financing of terrorism and counter-proliferation financing as well as in line with the Financial Action Task Force (FATF) Recommendations.
The TPPA incorporated the Nigeria Sanctions Committee (NSC) which was earlier established by the Terrorism Prevention (Freezing of International Terrorist Funds and Other Related Measures) Regulations, 2013 (TPR). The TPPA also expanded the functions of the NSC by identifying it as the body responsible for the implementation of UNSCRs related to proliferation financing.
