The Federal Government has officially designated Simon Ekpa and 15 other individuals as terrorism financiers. The government also declared the Lakurawa Sect as a terrorist organization and a terrorism financier.
These actions were taken following their alleged involvement in funding and supporting terrorist activities.
The announcement came on Thursday, March 6, 2025, after the Nigeria Sanctions Committee (NSC), an independent body led by the Attorney General, recommended the designation. The Chairman of the NSC subsequently directed the inclusion of Simon Ekpa Njoku and others on the Nigeria Sanctions List.
According to the government, the decision was made in line with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022. Under this provision, all financial institutions and certain businesses are now required to immediately freeze, without prior notice, all funds and assets linked to the designated individuals and entities. They must also report any such frozen assets to the Secretariat of the Nigeria Sanctions Committee.
Additionally, any financial transactions involving these individuals must be flagged and reported to the Nigerian Financial Intelligence Unit (NFIU). The law mandates strict compliance, warning that failure to adhere to these measures could result in both criminal and civil penalties, as well as reputational risks for financial institutions and businesses.
