Full Electronic Registration (e-Registration) now available on the ePortal | In a major boost to capital market regulation in Nigeria, President Ahmed Bola Tinubu GCFR, has assented to the Investments and Securities Bill (ISB) 2025, which repeals the Investments and Securities Act No. 29 of 2007 | Full Electronic Registration (e-Registration) now available on the ePortal | In a major boost to capital market regulation in Nigeria, President Ahmed Bola Tinubu GCFR, has assented to the Investments and Securities Bill (ISB) 2025, which repeals the Investments and Securities Act No. 29 of 2007 |

Published: October 27, 2026

sanctions

CIRCULAR TO ALL CAPITAL MARKET REGULATED ENTITIES

NOTICE OF SANCTIONS

Designation Of Individuals And Entity By The Nigeria Sanctions Committee (NSC)

In line with the provisions of the Terrorism Prevention and Prohibition Act (TPPA), 2022, the Nigeria Sanctions Committee (NSC) has designated three (3) Individuals and one (1) Entity as terrorist financiers and added them to the Nigeria Sanctions List. The Particulars of the sanctioned individuals and entity are as follows:

INDIVIDUALS DESIGNATED

  1. KIM JUNG JONG (listed on 15/10/2026. Served as the Tanchon Commercial Bank representative in Vietnam)
  2. MOUNIR EL MOTASSADEQ (listed on 15/10/2026. Arrested on 28 Nov. 2001 and found guilty in Germany of being an accessory to murder and of membership of a terrorist organization and sentenced to 15 years’ imprisonment on 8 Jan. 2007. Deported from Germany to Morocco in October 2018. Father's name is Brahim Brik. Mother's name is Habiba Abbes.)
  3. NOOR WALI MEHSUD (listed on 15/10/2026. Leader of Tehrik-e Taliban Pakistan (TTP) (QDe.132) following the death of former TTP leader Maulana Fazlullah (QDi.352)).

ENTITY DESIGNATED

  1. TEHRIK-E TALIBAN PAKISTAN (TTP) (Based in the tribal areas along the Afghanistan/Pakistan border. Formed in 2007, its leader is Noor Wali Mehsud)

All Capital Market Regulated Entities (CMREs) are by this circular directed to:

  • immediately identify and freeze, without prior notice, all funds, assets, and all other economic resources belonging to the designated persons and entities in their possession and report same to the Secretariat of the Nigeria Sanctions Committee;
  • report to the Secretariat of the Nigeria Sanctions Committee any frozen assets or actions taken in compliance with the designation, including attempted transactions;
  • immediately file a suspicious transaction report with the NFIU for further analysis of the financial activities;
  • report all cases of name matching in financial transactions, prior to or after receipt of this Sanctions List, as suspicious transactions to the NFIU;
  • subsequently cease/desist from all dealings with the designated persons and entity; and
  • continue to monitor transactions involving the designated persons and entity and report any findings to the Nigeria Sanctions Committee via info@nigsac.gov.ng.

Failure to comply with these directives constitutes a violation of the Investments and Securities Act, 2025, Terrorism Prevention and Prohibition Act (TPPA), 2022, and the SEC AML/CFT/CPF Regulations, 2023 and shall attract appropriate regulatory sanctions, including fines, suspension of operations, or revocation of registration, in addition to any other sanction as may be determined by the Commission.

This circular takes immediate effect.

Note that, at all times, any unusual or suspicious transactions shall be promptly reported to the Nigerian Financial Intelligence Unit (NFIU).

SIGNED
MANAGEMENT
OCTOBER 16, 2026

  1. Back to Home
  2. /
  3. For Investors
  4. /
  5. Keep Track of Circulars
  6. /
  7. Designation Of Individuals And Entity By The Nigeria Sanctions Committee (NSC)
Share: