FG Cracks Down On Fidelity Bank For Alleged Terrorism-Linked Transactions

The Federal Government has imposed sanctions on Fidelity Bank Plc over its alleged role in terrorism financing. This follows an investigation by the Nigeria Sanctions Committee (NSC), which uncovered that multiple accounts operated within the bank were linked to individuals and groups suspected of funding terrorist operations.

The sanctions form part of a wider national security crackdown aimed at dismantling the financial infrastructure of insurgent and separatist movements across the country.

Simon Ekpa Implicated in Financing Network

One of the key figures in the investigation is Simon Ekpa, a controversial separatist and leader of the self-proclaimed Biafra Republic Government in Exile (BRGIE). Ekpa, currently in detention in Finland on terrorism-related charges, reportedly operated accounts across several Nigerian banks—including Fidelity Bank—to allegedly channel funds supporting subversive activities.

The Nigerian Financial Intelligence Unit (NFIU) confirmed that the Attorney-General of the Federation (AGF), acting on the orders of President Bola Ahmed Tinubu, authorized the sanctions and the placement of all implicated individuals and entities on the Nigeria Sanctions List.

Freeze Order, Prosecution Measures Enforced

In accordance with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, the government has implemented the following actions:

Immediate freeze of all identified accounts and assets tied to the suspects.

Mandatory reporting of frozen assets to the NSC.

Filing of Suspicious Transaction Reports (STRs) with the NFIU.

Tracking and reporting of any related transactions, past or future.

Fidelity Bank Accounts Under Scrutiny

Authorities identified the following Fidelity Bank accounts as being linked to terrorism financing operations:

Account 1: 6239280146

Account 2: 6552642526

Account 3: 5090919707

These sanctions also cover any assets directly or indirectly owned or controlled by the sanctioned individuals.

Government Calls for Increased Vigilance

The government is urging financial institutions and the public to remain alert and report any suspicious financial activities. Reports can be made to the appropriate authorities via the following official email addresses:

[email protected]

This latest enforcement action reflects the government’s unwavering commitment to eradicating terrorism and its financial enablers in Nigeria and beyond.