The Securities and Exchange Commission has directed capital market operators to immediately freeze the funds, assets, and economic resources of six individuals and three entities designated as terrorist financiers by the Nigeria Sanctions Committee.

The directive, communicated via a circular issued to all Capital Market Regulated Entities on Friday, was implemented in accordance with the provisions of the Terrorism Prevention and Prohibition Act 2022.

The six designated individuals are Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, Muktar Muhammad Adamu, and Yakubu Ogirima Ibrahim.

The three corporate bodies placed on the sanctions list are Nine to Nine BDC Ltd, Generation Currency BDC Ltd, and Abbal Bako & Sons Bureau de Change.

According to the capital market regulator, Hammajam was listed on June 18, 2026, for his involvement in terrorism financing and active support for the Islamic State West Africa Province.

Usman was sanction-listed for providing material assistance to a designated terrorist organisation through repeated financial transactions, while Abubakar was listed for terrorism financing and direct membership of ISWAP.

The commission further revealed that Chiroma allegedly utilised Bureau De Change operations and affiliated corporate entities to move funds linked to terrorist activities.

Similarly, Muktar Adamu was listed on June 15, 2026, for facilitating financial network operations for the ISWAP Okene cell, while Ibrahim provided financial and material support to the ISWAP Kogi cell. The three BDCs were indicted for channelling funds linked to the same Okene financing network.

The action comes amid intensified efforts by Nigerian authorities to disrupt the financial lifelines of insurgent groups operating in the North-East and North-Central regions. Bureau De Change operators have frequently come under regulatory scrutiny by both the SEC and the Central Bank of Nigeria over illegal foreign exchange dealings and money laundering vulnerabilities.

Under the TPPA 2022 and Nigeria’s Sanctions Framework, financial institutions and capital market operators are mandated to act swiftly on sanctions lists issued by the NSC to prevent illicit funds from flowing through the formal financial system.

In its directive, the SEC mandated CMREs to identify and freeze all listed assets without prior notice to the designated individuals or entities. Operators were instructed to submit full compliance reports—including details of frozen assets and any attempted transactions—to the Secretariat of the Nigeria Sanctions Committee.

Additionally, the commission directed all regulated firms to file Suspicious Transaction Reports directly with the Nigerian Financial Intelligence Unit for deep analysis.

“Regulated entities must report as suspicious transactions all cases of name matches in financial transactions, whether occurring before or after the receipt of the sanctions list,” the SEC stated.

The regulator prohibited all forms of business dealings with the sanctioned entities, directing operators to maintain continuous monitoring across all accounts.

Warning of strict consequences, the SEC noted that the circular takes immediate effect, adding that non-compliance constitutes a severe violation of the Investments and Securities Act 2025 as well as the SEC Anti-Money Laundering/Combating the Financing of Terrorism Rules and Regulations.

Defaulting operators risk regulatory sanctions, including heavy financial penalties, operational suspension, or complete revocation of registration licences.

• Victims picked up near Ebenebe, Anambra-Enugu boundary

Chief Sir Joseph Ebere Ezeokafor, chairman of Jezco Group of Companies and father of popular social media personality, Jowi Zaza, has regained his freedom after days in the custody of his abductors.

The Anambra State Police Command on Saturday confirmed the release of Ezeokafor and a Rev. Sister who were abducted by armed men at Ifite-Awka.

According to the Command, the two victims had safely returned, while security agencies were taking steps to establish the circumstances surrounding their release and gather information that could assist ongoing investigations.

Ezeokafor, a septuagenarian, was abducted in the early hours of Tuesday while reportedly on his way to a prayer ground in Awka, Anambra State.

He was released late on Friday night and subsequently picked up by a family member near the boundary between Anambra and Enugu states, close to Ebenebe, near Awka.

A close family member, who confirmed the development, said the family was “understandably ecstatic” over his release.

“Thank God, the septuagenarian is free at last,” the source said.

Another source familiar with the development said Ezeokafor was picked up by a family member in Ebenebe.

The source described the area as an emerging kidnapping location in the axis, alleging that several abductions had either occurred there or that victims abducted elsewhere had been taken to the area.

But the claim could not be independently verified as of the time of filing this report.

The businessman’s abduction had generated widespread concern across Anambra State and beyond, with security agencies coming under pressure to secure the safe release of the victims.

The development also came amid reports that the abductors had established contact with Ezeokafor’s family and initially demanded N700 million in ransom before allegedly raising the demand to N1.5 billion.

It could not be immediately ascertained if any ransom was paid before his release as the circumstances surrounding the victims’ release are yet to be explained.

It was also learnt that a reverend sister, who was abducted by the same gang, was also released along with the Jezco boss but her identity was not disclosed.

In its statement confirming the release, the police said it was taking necessary steps to establish what transpired and obtain relevant information that could assist in identifying and apprehending the perpetrators.

The Commissioner of Police, Anambra State Command, CP Nnanna Oji Ama, commended the safe return of the victims and directed intensified intelligence-led operations and a manhunt for those responsible for the abduction.

The police said the operation involves the Nigeria Police, Department of State Services, the military, Nigeria Security and Civil Defence Corps, Agunechemba security operatives and other relevant security agencies.

The Command also appealed to members of the public to remain vigilant and provide credible and timely information that could assist security agencies in apprehending the perpetrators.

Ezeokafor is the founder of Jezco Oil and Lubricants, which he established in 1980 and subsequently expanded into other areas of manufacturing and business.

He is well known in Anambra’s business community, while his son, Jowi Zaza, has a significant following on social media.

Gunmen have abducted 14 passengers travelling along the Otukpo–Adoka road in Benue State, with the police confirming that five of the victims have so far been rescued.

The incident occurred on Thursday night when an 18-seater commercial bus travelling from Enugu State to Abuja was reportedly ambushed along the Ankpechi–Omutele axis of Ohimini Local Government Area.

A resident, Ochai, who spoke with our correspondent on Friday, said the gunmen forced all the passengers into the surrounding forest.

Ochai said, “Some gunmen ambushed an 18-seater bus heading to Abuja between Omutele and Ankpechi along Otukpo -Adola road yesterday (Thursday) night.

“All the passengers in the vehicle were whisked away by the gunmen.”

Confirming the incident, the spokesperson for the Benue State Police Command, DSP Peter Aondongu, in a statement made available to journalists in Makurdi, said the police launched a coordinated rescue operation early Friday.

Aondongu said the operation involved an exchange of gunfire between the security operatives and the kidnappers.

The police boss said, “The Benue State Police Command has confirmed a kidnapping incident involving a commercial passenger bus travelling from Enugu State to Abuja along the Ankpechi–Omutele axis of Ohimini Local Government Area on the night of 13 August 2026.

“Following the incident, operatives of the command commenced a coordinated rescue operation early this (Friday) morning. The operation, which involved an exchange of gunfire, has so far resulted in the successful rescue of five victims, including a four-year-old boy, while nine others remain in the custody of the suspected kidnappers.”

The police spokesperson disclosed that one of the rescued victims sustained a gunshot injury during the operation and was taken to a medical facility in Otukpo for treatment.

He said the police, working with other security agencies, had intensified efforts to secure the release of the remaining nine victims.

According to Aondongu, the operation was being conducted cautiously, with the safety of the abducted passengers prioritised.

The Commissioner of Police in the state, Cletus Nwadiogbu, also assured the victims’ families and members of the public that efforts would continue until the remaining passengers were rescued.

He urged residents of the affected communities to remain vigilant and provide security agencies with credible information that could aid the rescue operation.