The Federal Government has expressed support for the decision by the United States to impose sanctions on a Nigerian businessman, Mukthar Muhammad Adamu, and two Bureau De Change (BDC) operators over their alleged involvement in financing terrorist activities.
The government described the move as a significant step in ongoing efforts to dismantle financial networks that support terrorist groups operating within and beyond Nigeria’s borders.
In a statement released on Wednesday by the Nigerian Financial Intelligence Unit (NFIU), the Nigeria Sanctions Committee said the action taken by the United States Office of Foreign Assets Control (OFAC) reflects growing international collaboration in the fight against terrorism financing.
According to the committee, Adamu, along with Nine to Nine BDC Limited and Generation Currency BDC Limited, had already been designated on Nigeria’s sanctions list on June 18, 2026, before the United States announced its own measures.
The committee explained that the designation followed extensive intelligence gathering, financial investigations, and risk assessments carried out by Nigerian security and financial agencies over several months.
Investigators reportedly found sufficient grounds to suspect that the affected individuals and organisations were involved in facilitating, funding, or supporting the activities of the Islamic State West Africa Province (ISWAP) and other affiliated terrorist groups.
The committee noted that the US sanctions would further strengthen efforts to cut off suspected terrorist financiers from the global financial system and restrict their ability to access resources.
Beyond Mukthar Muhammad Adamu, Nigerian authorities also listed Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, and Babangida Muhammed Adamu Hammajam among individuals linked to the sanctions measures.
Entities named by the committee include Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited, and Nine to Nine BDC Limited.
The committee reiterated its directive to banks, financial institutions, and designated non-financial businesses to strictly comply with sanctions regulations. It instructed them to freeze assets connected to designated individuals and entities, file Suspicious Transaction Reports where necessary, and promptly notify relevant authorities of any matches identified.
The committee also commended the coordinated efforts of key government agencies, including the Federal Ministry of Justice, the Office of the National Security Adviser (ONSA), the Central Bank of Nigeria (CBN), the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), and the NFIU in investigating and disrupting financial channels linked to terrorism.
Reaffirming Nigeria’s commitment to combating terrorism financing, the committee pledged continued cooperation with both domestic institutions and international partners to strengthen the country’s financial system and prevent terrorist organisations from accessing funds needed to sustain their operations.
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