The Federal Government of Nigeria has taken a strong stand against individuals and entities suspected of financing terrorism by freezing the bank accounts of Simon Ekpa, a known separatist leader, and 16 other individuals and organizations. This action follows the latest designation of these people and groups on the Nigeria Sanctions List.
On Thursday, March 6, 2025, the Federal Government, through the Nigeria Sanctions Committee, made the announcement after a meeting held in Abuja. The move was in line with the provisions of the Terrorism (Prevention and Prohibition) Act of 2022, a law designed to combat terrorism and its financing within Nigeria.
Simon Ekpa, a prominent figure in the Indigenous People of Biafra (IPOB) movement, is one of the individuals who had his bank accounts frozen. Ekpa, who is based outside Nigeria, has been known for his active role in advocating for the secession of the southeastern region of Nigeria and for supporting the IPOB’s cause. His activities have drawn widespread attention, both within Nigeria and internationally, and he has been accused of inciting violence and supporting acts of terrorism.
In addition to Ekpa, 16 other individuals and organizations were also targeted by the sanctions. These people and groups are believed to be involved in supporting terrorism in various forms, whether through financing, promoting violent activities, or providing logistical support. Some of the individuals listed have accounts with major banks such as Guaranty Trust Bank, Access Bank, Eco Bank, UBA, and Fidelity, among others. The freezing of these accounts is a key part of the Nigerian government’s strategy to disrupt the flow of funds to terrorist organisations and their sympathisers.
The decision to freeze these accounts was made after a recommendation by the Nigeria Sanctions Committee, which met and reviewed the situation. In a statement, the committee noted that the freezing of accounts is in accordance with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022. This law gives the government the authority to freeze the assets and funds of individuals or entities involved in terrorism activities without prior notice.
According to the government documents, the Attorney-General of the Federation, with the approval of President Bola Tinubu, gave the directive for the individuals to be added to the sanctions list. The committee is now tasked with ensuring that all assets, funds, and economic resources belonging to these designated individuals and groups are frozen. This includes not just bank accounts but any other forms of assets that could be used to support terrorism.
The committee emphasized that all accounts linked to these designated individuals must be frozen, and the sanctions must be enforced immediately. The committee also called for regular reports to be submitted regarding the actions taken to comply with the sanctions.
The freezing of bank accounts is part of a broader effort by the Nigerian government to cut off the financial lifeblood of terrorist groups operating within and outside the country. Nigeria has faced a growing threat from extremist groups, including Boko Haram, ISWAP (Islamic State West Africa Province), and various separatist organizations. These groups rely heavily on financial support to carry out their violent activities, making it essential for the government to target the financial infrastructure supporting them.
The government has said that it is determined to continue its crackdown on terrorism financing by using all available legal and regulatory tools. The freezing of accounts associated with Simon Ekpa and his supporters marks a significant step in this ongoing battle. The federal authorities have made it clear that the sanctions will not stop at freezing accounts. They have also instructed that reports be sent to the Nigeria Financial Intelligence Unit (NFIU) for further analysis on suspicious financial activities. Any funds that are owned, controlled, or derived from the designated individuals will be scrutinized closely to ensure they do not fund further terrorist acts.
The full list of individuals and entities whose bank accounts were frozen includes Simon Ekpa, Godstime Promise Iyare, Francis Chukwuedo Mmaduabuchi, and several others. Notably, several businesses were also added to the sanctions list, including Igwe Ka Ala Enterprises and Seficuvi Global Company. These entities and individuals were linked to various forms of financial transactions that were believed to support terrorism, either directly or indirectly.
The financial accounts associated with these individuals and organizations span across multiple banks, including major Nigerian institutions like Access Bank, Eco Bank, First Bank, GTB, UBA, and Fidelity Bank. In some cases, the accounts even extend to mobile money platforms like Moniepoint and Opay, highlighting the use of various financial systems in terrorism financing.
