Regulatory Alerts2021-02-01
Advisory Note on US Sanctions Against Australian Precious Stones Trader for Terrorism Financing
The Special Control Unit Against Money Laundering (SCUML) issued an advisory note to all Designated Non-Financial Institutions (DNFIs) in Nigeria, drawing attention to the US Department of Treasury's Office of Foreign Asset Control (OFAC) designation of Australian national Ahmed Luqman Talib and his company Talib and Sons for alleged terrorism financing. SCUML reminds DNFIs to continue conducting sanction screening of all their customers and highlights Nigeria's concern about the nexus between illegal mining, banditry, and terrorism financing. All properties and interests of these designated persons and company within Nigeria or under the control of Nigerian persons must be blocked and reported to the Nigeria Financial Intelligence Unit (NFIU), with a warning that engaging in transactions with them may also lead to sanctions.
SPECIAL CONTROL UNIT AGAINST MONEY LAUNDERING Head Office: No. 5, Fomella Street, Off Ademola Adetokumbo Crescent, Wuse II, Abuja Tel: 08183754112, 08186886219 Email: info@scuml.org Lagos: 15, Awolowo Road, Ikoyi, Lagos. Tel: 08098044926, 08058261352 Email: Lagos@scuml.org Kano: GP 360 Bida Road Civic Centre, Kano. Tel 08109185147, 08082670975 Email: kano@scuml.org P/Harcourt: No. 8 Bank Road, Off Moscow Road, Port Harcourt, Rivers State, Tel: 08167599394 Email: ph@scuml.org Enugu: Plot 106 FGC Road, Independence Layout, Enugu. Tel: 07054099561 Email: cnugu@scuml.org Gombe: No. 4 EFCC Street, New GRA, Gombe. Tel: 07085937371 Email: gombe@scuml.org
SCUML/SRBs/26/Vol.III/356 8th February, 2021
All Designated Non-Financial Institutions,
ADVISORY NOTE ON – UNITED STATES AUTHORITIES IMPOSE SANCTIONS ON AUSTRALIAN PRECIOUS STONES TRADER/COMPANY FOR TERRORISM FINANCING
We wish to draw your attention to the designation of an Australian national and a Melbourne based precious stones merchant, Ahmed Luqman Talib and his company Talib and Sons by the US Department of Treasure's Office of Foreign Asset Control (OFAC). The individual and his entity were alleged to have been financing AlQaeda.
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The Nigeria Government raised concern on the possible nexus between illegal mining of precious stones, financing of banditry and terrorism activities in the Country.
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Accordingly, we want to draw the attention of all Designated Non-Financial Institutions (DNFIs) operating in Nigeria to the designation and remind them to continue to conduct sanction screening of all their customers:
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For avoidance of doubt, all properties and interests in properties of these designated persons and company that are in or come within the Nigeria or the possession or control of Nigeria persons must be blocked and reported to Nigeria Financial Intelligence Unit (NFIU). In
addition, persons that engage in certain transactions with the individual designated may themselves be exposed to sanctions of subject to an enforcement action.
Accept the assurances of our highest regards, please.
(Signature) Hanafi Baba-Ahmed Director, SCUML