Even if the banks have no transactions involving the groups, a report is still to be expected.
The Central Bank of Nigeria (CBN) has asked commercial banks in the country to submit regular monitoring reports on all proscribed terrorist groups, their sponsors and associates.
The CBN in a statement by its Acting Director, Financial Policy & Regulation Department, I. T. Nwaoha, identified ‘Jamaatu Ahlis-Sunna Liddaawati Wal Jihad’ otherwise known as Boko Haram and ‘Jama’atu Ansarul Muslimina Fi Biladis Sudan’, also called Ansaru, both recently proscribed by the Federal Government, as its prime focus.
According to the CBN: “Where no accounts or business relationships are maintained for any of the proscribed names or their associates, a nil return should be rendered.”
It, however, did not state what sanctions would be meted out to those banks that would fail to comply with the directive.
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