The Nigeria Sanctions Committee has endorsed the decision of the United States Office of Foreign Assets Control to impose sanctions on Mukhtar Muhammad Adamu and two Bureau De Change firms over alleged links to terrorism financing.
In a statement issued on Wednesday, the committee said the action by the US authorities followed Nigeria’s earlier designation of the individuals and entities on the Nigeria Sanctions List on June 18, 2026.
According to the committee, the sanctions were the outcome of extensive intelligence gathering, financial investigations and inter-agency assessments which established reasonable grounds to believe that the affected individuals and entities provided financial support to the Islamic State West Africa Province and other affiliated terrorist networks.
It noted that the latest US action mirrored the inclusion of Adamu and his companies in a broader update to the Nigeria Sanctions List approved and published earlier this month.
The statement said the designation of six individuals and three companies followed detailed investigations aimed at disrupting financial channels linked to terrorism.
Those listed include Ibrahim Yakubu Ogirima, Muktar Muhammad Adamu, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman and Babangida Muhammed Adamu Hammajam.
The affected entities are Abbal Bako and Sons Bureau De Change Limited, Generation Currency BDC Limited and Nine to Nine BDC Limited.
The Federal Government reiterated its directive to financial institutions and designated non-financial businesses and professions to ensure full compliance with sanctions requirements.
“The Federal Government reiterates its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of Suspicious Transaction Reports and the reporting of all relevant matches to the appropriate authorities,” the statement read.
The committee also commended the efforts of key agencies involved in the investigations and enforcement process, including the Federal Ministry of Justice, Office of the National Security Adviser, Central Bank of Nigeria, Department of State Services, Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit.
According to the committee, the agencies have played a crucial role in ensuring that terrorist groups are deprived of the resources needed to sustain their operations.
Reaffirming the government’s commitment to combating terrorism financing, the committee stressed that Nigeria would continue to work with local stakeholders and international partners to safeguard national security and strengthen the integrity of the financial system.
“The Government will continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity and contribute to global efforts to combat terrorism and its financing,” the statement added.
The development comes days after the United States Department of the Treasury, through its Office of Foreign Assets Control, announced sanctions against Lagos-based Bureau De Change operator Mukhtar Muhammad and three companies allegedly linked to him over claims that they served as financial conduits for ISWAP.
OFAC accused Muhammad, also known as Mukhtar Adamu Muhammad, of facilitating money transfers and financial transactions on behalf of the terrorist group.
The agency also designated Nine To Nine Exchange Bureau De Change Limited, Generation Currency Bureau De Change Limited and Manhattan Bureau De Change Limited, alleging that the firms were owned, controlled or directed by Muhammad and used to move funds for ISWAP.
