The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to freeze accounts of customers accused of terrorism financing.

In a circular signed by Olubunmi Ayodele-Oni, the apex bank on Thursday said the directive followed recent designations by the Nigeria Sanctions Committee and the US Treasury Department’s Office of Foreign Assets Control.

The US had recently listed three individuals and six entities allegedly linked to Islamic State (ISIS) financing, including three Nigerian bureau de change (BDC) operators.

The Nigerian BDCs are said to be situated in Lagos and Kano.

Commenting on the development, the CBN asked all financial institutions to “immediately freeze, without prior notice, all funds, assets, and other economic resources belonging to, owned, held, or controlled (directly or indirectly) by the designated persons and entities”.

The apex bank directed financial institutions to screen existing customers, beneficial owners and transactions against the updated sanctions list.

The CBN also ordered banks to ensure that no funds, financial services or economic resources are made available, directly or indirectly, to the designated persons and entities.