About NIGSACNigeria being a member of the United Nations and in pursuit of its commitment to international peace and security as enunciated under the Charter of the United Nations has enacted the Terrorism (Prevention and Prohibition) Act, 2022 which established the Nigeria Sanctions Committee as the national body responsible for the implementation United Nations Security Council Resolutions (“UNSCRs”) on Targeted Financial Sanctions.
Targeted Financial Sanctions (“TFS”) issued by the United Nations Security Council are designed to deny any individuals or entities associated with terrorism, terrorism financing and financing of the proliferation of weapons of mass destruction (“WMDS”) access to assets, funds, equipment or support.
The Nigeria Sanctions Committee (“NSC”) is Chaired by the Honourable Attorney-General of the Federation and Minister of Justice and is empowered to make all necessary, regulations, guidelines, procedures and rules for the implementation of the UNSCRs in Nigeria. The scope of these rules and guideline apply to all individuals and entities in Nigeria. The NSC by virtue of Section 10 of the TPPA 2022 is empowered to enforce the implementation of all the UNSCRs contained in Schedule 1 of the Terrorism (Prevention and Prohibition) Act 2022 and include the following:
|UNSCR 1373 (2001)||Any individual or entity designated by the Federal Republic of Nigeria (“Nigeria Sanctions List”)|