US Sanctions Lagos-Based Nigerian, 3 BDC Firms Over Alleged ISIS Financing
The United States Government has designated a Lagos-based Nigerian, Muhammad Mukhtar Adamu, as an alleged financier of the Islamic State in West Africa (ISWAP), accusing him of facilitating money transfers through bureau de change operations in Nigeria.
The designation was announced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) as part of a broader counter-terrorism sanctions programme targeting individuals and entities allegedly involved in ISIS financial networks spanning Europe, the Middle East and West Africa.
According to the U.S. Treasury Department, three individuals and six entities were sanctioned for allegedly enabling ISIS to move funds across international borders in support of its operations and affiliated groups.
Washington said the measures are intended to disrupt financial channels used by the terrorist organisation to coordinate attacks, sustain its regional affiliates and threaten civilian populations, including religious minorities.
Adamu, identified by OFAC as Mukhtar Adamu Muhammad, was listed as an alleged financial facilitator for ISIS-West Africa. U.S. authorities claimed that he conducted financial transactions and money transfers on behalf of the terrorist group.
OFAC identified Adamu as a Nigerian national and provided an address in Agege, Lagos State. He was reported to have been born on August 2, 1990, with an alternative date of birth listed as August 3, 1990.
The U.S. government also imposed sanctions on three Nigeria-based money service businesses allegedly owned, controlled or directed by Adamu. They include Nine To Nine Exchange Bureau De Change Limited, located at the FAAN Complex, Airport Road, Ikeja, Lagos; Manhattan Bureau De Change Limited, situated on Murtala Mohammed Way in Kano; and Generation Currency Bureau De Change Limited, based in Lagos.
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According to OFAC records, Nine To Nine Exchange Bureau De Change Limited was incorporated on August 22, 2017, with Registration Number RC 1462752. Manhattan Bureau De Change Limited was registered on January 26, 2021, with Registration Number RC 1763824, while Generation Currency Bureau De Change Limited was incorporated on January 9, 2019, with Registration Number RC 1555604.
Also named in the sanctions were Abderrahmane Miloud, also known as Ghazi Ibrahim, a French national accused of conducting transactions with ISIS-linked individuals and providing explosives-related information to ISIS supporters, and Abdelhakim Boukich, also known as Babili Muhammad, a Syria-based financial facilitator alleged to have controlled a Bitcoin exchange used for ISIS-related transfers.
The U.S. Treasury Department stated that ISIS has increasingly relied on decentralised networks, regional affiliates and financial intermediaries as a result of sustained international counter-terrorism pressure.
The sanctions announcement comes weeks after a joint operation involving U.S. and Nigerian authorities reportedly led to the killing of Abu-Bilal al-Minuki, whom Washington described as ISIS’s second-in-command and head of its General Directorate of Provinces.
Under the sanctions, all property and interests in property belonging to the designated individuals and entities that fall within U.S. jurisdiction are blocked. American citizens and organisations are generally prohibited from engaging in transactions with those listed.
The Treasury Department further warned that financial institutions and other parties that conduct transactions with sanctioned individuals or entities could face penalties or secondary sanctions.
U.S. Treasury Secretary Scott Bessent said ISIS continues to seek new methods of financing its activities, adding that the United States remains committed to dismantling the group’s remaining capabilities and preventing future attacks.
By PRNigeria
