The Nigeria Sanctions Committee (NSC) has welcomed the decision of the United States to sanction three bureau de change (BDC) firms and individuals over alleged links to terrorism financing.
On Tuesday, the US Treasury Department designated Mukhtar
Adamu and three Nigerian BDC firms for allegedly facilitating financial
transactions on behalf of ISIS.
The US said Adamu used his businesses in Lagos and Kano as
conduits for moving funds linked to the terrorist group.
The firms named by Washington are Generation Currency Bureau
De Change Limited, Nine to Nine Exchange Bureau De Change Limited, and
Manhattan Bureau De Change Limited.
The sanctions were part of a broader crackdown targeting
individuals and entities across Europe, the Middle East, and West Africa
accused of helping ISIS move funds across borders.
In a statement on Wednesday, the committee said the US
action followed the inclusion of Adamu and his companies in the Nigeria
Sanctions List published on June 18, 2026.
“The Nigeria Sanctions Committee welcomes the recent
inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC and Generation BDC
Limited by the United States Office of Foreign Assets Control (OFAC)
yesterday,” the statement reads
The committee said the designation was based on extensive
intelligence gathering, financial investigations, and inter-agency assessments.
According to the NSC, there were reasonable grounds to
believe that the affected individuals and entities “facilitated, financed,
supported or otherwise contributed” to the activities of the Islamic State West
Africa Province (ISWAP) and associated terrorist networks.
The federal government reiterated its directive to financial
institutions and designated non-financial businesses and professions to comply
with sanctions obligations, including freezing assets, filing suspicious
transaction reports, and reporting relevant matches to authorities.
The committee also commended the federal ministry of
justice, office of the national security adviser (ONSA), Central Bank of
Nigeria (CBN), Department of State Services (DSS), Economic and Financial
Crimes Commission (EFCC), and the Nigerian Financial Intelligence Unit (NFIU)
for their roles in disrupting terrorist financing networks.
The NSC added that Nigeria remains committed to ensuring
that terrorists and their financiers have no safe haven within the country’s
financial system.
The committee said the government would continue to
collaborate with domestic and international partners to strengthen financial
integrity and combat terrorism financing.
Those added to the Nigeria sanctions list include:
1. Ibrahim Yakubu Ogirima (NLISWi.19)
2. Mukhtar Muhammad Adamu (NLISWi.20)
3. Adamu Chiroma (NLISWi.21)
4. Ibrahim Abubakar (NLISWi.22)
5. Abdullahi Umar Usman (NLISWi.23)
6. Babangida Muhammed Adamu Hammajam (NLISWi.24)
7. Abbal Bako & Sons Bureau De Change Limited
(NLISWe.25)
8. Generation Currency BDC Limited (NLISWe.26)
9. Nine to Nine BDC Limited (NLISWe.27)
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