The Federal Government has endorsed the United States government’s decision to sanction a Nigerian businessman and two Bureau De Change operators over their alleged roles in financing terrorism, describing the move as a significant step in dismantling financial networks that sustain extremist groups.
In a statement released Wednesday, the Nigeria Sanctions Committee — operating under the Nigerian Financial Intelligence Unit (NFIU) — said the sanctions imposed by the US Office of Foreign Assets Control reflected deepening international cooperation in the global fight against terrorism financing.
The committee noted that the businessman, Mukthar Muhammad Adamu, along with Nine to Nine BDC Limited and Generation Currency BDC Limited, had already been added to Nigeria’s own sanctions list on June 18, 2026 — days before Washington acted.
According to the committee, the designations followed months of intelligence gathering, financial investigations and risk assessments conducted by Nigerian security and financial agencies. Investigators said they established reasonable grounds to conclude that the affected individuals and entities had facilitated or financed the Islamic State West Africa Province and its affiliated groups.
Beyond Adamu, Nigerian authorities also listed Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman and Babangida Muhammed Adamu Hammajam as sanctioned individuals. Additional entities on the list include Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited and Nine to Nine BDC Limited.
The committee restated its directive to banks, other financial institutions and designated non-financial businesses to freeze assets tied to listed persons and entities, file Suspicious Transaction Reports and notify relevant authorities of any identified matches.
It praised the joint efforts of the Federal Ministry of Justice, the Office of the National Security Adviser, the Central Bank of Nigeria, the Department of State Services, the Economic and Financial Crimes Commission and the NFIU in tracking and disrupting the financing networks.
Nigeria, the committee said, remains committed to working with both domestic institutions and international partners to protect the integrity of its financial system and cut off resources that could sustain terrorist operations.
READ ALSO:
- Access Bank UK Polo Day 2026: Windsor Hosts One of Season’s Most Anticipated International Gatherings
- Senate Approves Bill for Creation of State Police
- Trump, Infantino to Present World Cup Final Trophy Together
- FG Backs US Sanctions on Nigerian Businessman, BDC Firms Over Terror Financing
- FCT Minister Wike Slams Super Eagles for Missing 2026 World Cup
