- FG Reacts As US Blacklists Nigerians Over Terrorism Financing Allegations
- Authorities said investigations linked suspects to ISWAP activities.
- Nigeria pledged stronger cooperation against terrorist financial networks.
The Federal Government has welcomed the decision of the United States to sanction Nigerian businessman Mukthar Muhammad Adamu and two Bureau De Change operators over their alleged involvement in financing terrorism.
The government described the move as a significant boost to ongoing efforts aimed at dismantling financial networks linked to terrorist organisations operating within and beyond Nigeria.
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EKO HOT BLOG reports that
In a statement issued on Wednesday by the Nigerian Financial Intelligence Unit (NFIU), the Nigeria Sanctions Committee said the sanctions imposed by the United States Office of Foreign Assets Control reflected growing international collaboration in the fight against terrorism financing.
According to the committee, Mukthar Muhammad Adamu, alongside Nine to Nine BDC Limited and Generation Currency BDC Limited, had already been placed on Nigeria’s sanctions list on June 18, 2026, before the action taken by the United States.
The committee stated that the designation followed months of intelligence gathering, financial investigations and risk assessments carried out by relevant Nigerian security and financial agencies.
It noted that investigations established reasonable grounds to believe that the affected individuals and entities facilitated, financed or otherwise supported the activities of the Islamic State West Africa Province (ISWAP) and affiliated terrorist groups.
The committee added that the latest sanctions would strengthen efforts to cut off alleged terrorist financiers from accessing the global financial system and limit their ability to support extremist activities.
Apart from Mukthar Muhammad Adamu, the committee disclosed that other individuals listed by Nigerian authorities include Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman and Babangida Muhammed Adamu Hammajam.
The entities listed by the authorities 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, other financial institutions and designated non-financial businesses to fully comply with sanctions obligations. These measures include freezing assets linked to designated persons and entities, filing Suspicious Transaction Reports and notifying relevant authorities of any identified matches.
It also commended the collaborative 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 Nigerian Financial Intelligence Unit in investigating and disrupting financial networks connected to terrorism financing.
The committee reaffirmed Nigeria’s commitment to working closely with domestic institutions and international partners to strengthen the integrity of the country’s financial system and prevent terrorist organisations from accessing resources capable of sustaining their operations.
