CBN Orders Banks To Screen Customer Database, Update Terrorism Sanctions List

The Central Bank of Nigeria (CBN) has directed banks to screen their customer database for business relationship with Abdul Rehman Makki, who has been associated with ISIL or Al-Qaida, and file a report to the Nigerian Financial Intelligence Unit (NFIU).
The CBN in the circular referenced FPR/PUB/CIR/001/069, and dated February 2, 2023, also directed all banks and other financial institutions and payment service providers to “update their sanctions screening list to reflect the recent changes in the UNSC (United Nations Security Council) Consolidated List.”
The directive, the circular signed by Harry J. Audu, for the Director, Financial Policy and Regulation Department noted, is further to the requirements of the provisions of Section 6 of the CBN Anti-Money Laundering/CFT Regulations 2022 and Section 4.3 of the CBN Guidelines on Targeted Financial Sanctions Related to Terrorism and Terrorism Financing, 2022.
According to the circular, UNSC pursuant to paragraphs 2 and 4 of its resolution 2368 (2017) had on January 16, 2023, listed Makki as being associated with ISIL or Al-Qaida and has accordingly been added to the ISIL (Da’esh) and Al-Qaida Sanctions List of individuals and entities that are subject to assets freeze, travel ban and arms embargo as set out in paragraph 1 of Security Council resolution 2610 of 2021.

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