Nigeria, June 25 -- The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to immediately freeze the accounts of customers and entities linked to terrorism financing.

The directive, contained in a circular signed by Olubunmi Ayodele-Oni on Thursday, followed recent sanctions imposed by the Nigeria Sanctions Committee and the United States Treasury Department's Office of Foreign Assets Control (OFAC).

The US recently designated three individuals and six entities allegedly involved in financing the Islamic State (ISIS), including three Nigerian Bureau de Change (BDC) operators based in Lagos and Kano.

According to the CBN, all financial institutions must immediately freeze, without prior notice, any funds, ...