ENTITY

---

Referance Number

NLISWe.15

Entity Name

G. SIDE GENERAL ENTERPRISES

Incorporation Number

RC2398005

Incorporation Date

3/1/2016 11:11:00 AM

Sanction Date

3/18/2024 1:41:00 PM

Record Date

3/18/2024 12:21:11 PM

Reason for Designation

The Director/Promoter Yusuf Ghazali transferred N20 Million to Surajo Abubakar Muhammad (who is the number one convict in UAE for Financing Terrorism in Nigeria) in 2015. Yusuf Ghazali, the Company’s Director/Promoter transferred N40 Million to Ibrahim Ali Alhassan (who was convicted in UAE for financing terrorism in Nigeria) in 2015. Abubakar Adamu Yellow who had calls and financial transactions with Alhaji Saidu Ahmed (alleged leader of the group) and directed financial transactions with two of the convicts (Surajo Abukakar Muhammad and Ali Alhassan) received a sum of N189 Million from Yusuf Ghazali, the Company’s Director/Promoter between 2016 and 2018.

Comments

Phone Numbers

Address

Aliases

Press Release

On 18th March, 2024, the Chairman of Nigeria Sanctions Committee (NSC) on the recommendation of the NSC designated G. SIDE GENERAL ENTERPRISES NLISWe.15 as a terrorist financier and directs his addition to the Nigeria Sanctions List. Pursuant to the provisions of section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, all financial institutions and designated nonfinancial businesses and professions are required to: a) immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons and entities in your possession and report same to the Secretariat of the Nigeria Sanctions Committee; (b) report to the Secretariat of the Nigeria Sanctions Committee, any assets frozen or actions taken in compliance with the designation, including attempted transactions; (c) immediately file a suspicious transactions report to the NFIU for further analysis on the financial activities of such an individual or entity; and (d) report as a suspicious transactions report to the NFIU, all cases of name matching in financial transactions prior to or after receipt of the Nigerian Sanctions List. (d) subsequently prohibit dealings with the designated persons and entities and to continue to check for transactions relating to the designated person or entity and the actions to be taken if funds or other assets or suspect transactions are discovered (e) note that this freezing obligation extends to: (i) all funds or other assets that are owned or controlled by the designated person or entity, and not just those that can be tied to a particular act, plot, or threat of terrorism or terrorism financing; (ii) those funds or other assets that are wholly or jointly owned or controlled, directly or indirectly, by designated persons or entities; (iii) the funds or other assets derived or generated from funds or other assets owned or controlled directly or indirectly by designated persons or entities; and (iv) funds or other assets of persons and entities acting on behalf of, or at the direction of designated persons or entities. (f) note that this asset freezing mechanism is a preventive tool to disrupt terrorist support and activity and it is incumbent on financial institutions and designated non-financial businesses and professions to comply with the asset freezing obligations, giving the potential of both criminal and civil liabilities for non-compliance, as well as the reputational risks for financial institutions and DNFBPs of being seen to be in breach of the asset freezing mechanism. (g) All actions taken pursuant to this publication should be immediately communicated to the Secretariat of the Nigeria Sanctions Committee through nigsac@nfiu.gov.ng

Narrative Summary

NLISWe.15 - G. SIDE GENERAL ENTERPRISES Date of Registration: 01/03/2016 RC: 2398005 Address: No 43, Ibrahim Taiwo Road Kano State Reason for designation: The Director/Promoter Yusuf Ghazali transferred N20 Million to Surajo Abubakar Muhammad (who is the number one convict in UAE for Financing Terrorism in Nigeria) in 2015. Yusuf Ghazali, the Company’s Director/Promoter transferred N40 Million to Ibrahim Ali Alhassan (who was convicted in UAE for financing terrorism in Nigeria) in 2015. Abubakar Adamu Yellow who had calls and financial transactions with Alhaji Saidu Ahmed (alleged leader of the group) and directed financial transactions with two of the convicts (Surajo Abukakar Muhammad and Ali Alhassan) received a sum of N189 Million from Yusuf Ghazali, the Company’s Director/Promoter between 2016 and 2018.