The Nigeria Sanctions Committee has welcomed the decision by the United States Office of Foreign Assets Control (OFAC) to sanction Mukthar Muhammad Adamu, Nine to Nine Bureau De Change and Generation BDC Limited over alleged terrorism financing activities.
In a statement issued on Wednesday, the committee said the US action 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 result of extensive intelligence gathering, financial investigations and inter-agency assessments which found reasonable grounds to believe that the affected persons and companies supported or facilitated the activities of the Islamic State West Africa Province (ISWAP) and related terrorist networks.
The committee stated, “These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026.
The naming of the three companies and six persons followed extensive intelligence gathering, financial investigations, and inter-agency assessments which established 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 committee noted that those added to the sanctions list include Ibrahim Yakubu Ogirima, Muktar Muhammad Adamu, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman and Babangida Muhammed Adamu Hammajam.
The affected companies are Abbal Bako & 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 fully comply with sanctions obligations.
“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 said.
The committee also praised the efforts of agencies involved in the investigations and enforcement process.
“The Nigeria Sanctions Committee commends the work of 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 for their actions to ensure that terrorist groups are denied the resources that sustain their activities,” it added.
Reaffirming the government’s commitment to tackling terrorism financing, the committee said Nigeria would continue working with local and international partners to strengthen financial integrity and national security.
The development follows the decision by the US Treasury Department’s Office of Foreign Assets Control to impose sanctions on Lagos-based Bureau De Change operator Mukhtar Muhammad and three companies allegedly linked to him over claims that they served as financial channels for ISWAP.
In its statement, OFAC alleged that Muhammad, also known as Mukhtar Adamu Muhammad, facilitated financial transactions and money transfers on behalf of the terrorist group.
The agency also sanctioned 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.
