ABUJA, April 14, 2026 — The Federal Government stepped up its fight against terror funding. The Securities and Exchange Commission (SEC) froze assets of 10 people and 3 firms Monday.
What Happened
The Nigeria Sanctions Committee issued new designations on April 13, 2026. The group works under the Terrorism Act, 2022. Attorney-General Lateef Fagbemi, SAN chairs the committee.
Premium Times published the updated list. It names people and firms tied to terror funding. The targets include backers of IPOB, its armed wing ESN, and Lakurawa. Lakurawa operates in parts of the North-West.
The list added *Igwe Ka Ala Enterprises and Seficuvi Global Company. Both joined the sanctions list in 2025. It also named Simon Ekpa. Finland already convicted him for terror offences. The committee said he raised funds for armed groups in the South-East.
The South-East has faced many attacks. Gunmen hit security bases and civilians since IPOB leader Nnamdi Kanu’s arrest.
Why It Matters
Section 54 of the 2022 Act forces action. Banks and firms must find and freeze all assets of listed parties. They also cannot send money to them. The rule covers direct and indirect help.
This step aims to cut off cash for arms. It also targets money for fighters and attack plans. The committee said the move meets FATF rules. Nigeria must meet global counter-terror standards.
Analysts say this list looks different. It names firms and a convicted overseas financier. That shows a wider focus. The state now targets money men, not just gunmen.
Public Reaction
Many Nigerians want results. Past lists brought few trials. So people now ask for proof.
Kemi Babatunde spoke to Credible News. She studies security governance. She said trust is the issue now. “Nigerians have seen lists before,”_she said. “They want action —visible, real action.”
*David Babawale* also weighed in. He is a security analyst. He listed next steps. He wants fast arrests and questioning. He also wants agencies to share data more. “Freezing assets is step one, ”he said. “Breaking the network is the real job.”
Social media users agreed. Fyneface Dumnamene wrote: “Go beyond listing and prosecute them if you have facts.” Salawu Enesi said the state should “bring them to justice now.”
What’s Next
The SEC sent the list to banks and market firms. The Office of the National Security Adviser will lead next steps. ONSA will work with EFCC, DSS, and NFIU.
Legal expert Taofiq Olateju explained the challenge. He works at Yusuf O. Ali & Co. He said trials need strong proof. The state needs witnesses and court will too. Intelligence reports alone won’t win cases.
People in the South-East and North-West now wait. They face IPOB, ESN, and Lakurawa attacks often. They want to see if this freeze stops the violence.
The Federal Government promised a “whole-of-society” plan. Nigerians are watching for results.
