UK bans Nigerian firm Pilot Finance over alleged Russia sanctions evasion

By Nkiruka Nnorom

The United Kingdom has added a Nigerian company, Pilot Finance—also known as Continental Global Incentives—to its sanctions list for alleged involvement in sanctions evasion related to Russia’s war in Ukraine.

These measures were part of a new set of 70 sanctions announced yesterday, aimed at Russia’s shadow fleet, military procurement supply chains, and illicit finance networks that help circumvent restrictions. The UK government said the actions target third‑country suppliers of military goods to Russia and financial actors who facilitate illicit transactions.

Deputy High Commissioner Mrs. Gill Lever OBE explained that the designation of Pilot Finance is intended to close loopholes used to move funds on behalf of the Kremlin.

“This includes the designation of an entity, Pilot Finance (also known as Continental Global Incentives), linked to sanctions evasion activity in Nigeria,” Lever said.

“Entities such as this exploit financial systems to facilitate illicit transactions on behalf of the Kremlin, undermining the integrity of financial systems and exposing jurisdictions to reputational risk,” she added.

The UK described the sanctions as defensive, targeted measures designed to limit Russia’s ability to sustain its war against Ukraine.

“Our message is clear: we will continue to close loopholes, disrupt illicit networks, and restrict the resources enabling the Kremlin’s aggression,” Lever said.

This latest package follows a series of UK sanctions imposed since Russia’s invasion of Ukraine in 2022, which have targeted individuals, companies, and networks accused of enabling sanctions evasion and military procurement.

The UK said the measures aim to protect the integrity of the international financial system and reduce reputational risk for jurisdictions involved in the transactions.

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