UK sanctions Nigerian firm over alleged ties to Russia

The UK government has sanctioned Nigerian investment firm Pilot Finance Limited, accusing it of helping Moscow move funds through a financial network to circumvent sanctions over its war in Ukraine.

Britain has slapped sanctions on a Lagos-based Nigerian financial firm for allegedly helping Russia bankroll its war in Ukraine.

Peoples Gazette reports that Pilot Finance Limited, headquartered in Ikeja, was named in a fresh UK sanctions package targeting Russia’s global support networks.

London alleges the CBN-licensed bureau de change funnelled funds for Moscow through A7, a Russia-based transborder payments network designed to dodge international sanctions. The measures against the firm — founded in 1988 and directed by Akinwande Akinola — include an asset freeze, Akinola’s disqualification as director, and trust services sanctions. Secretary of State Yvette Cooper said there were reasonable grounds to suspect the company had benefited from and supported Russia’s war effort.

Prime Minister Keir Starmer said the UK would keep tightening the screws on Putin “until Russia’s war machine is brought to a halt.”