The Federal Government has welcomed the decision by the United States to place sanctions on Nigerian businessman, Mukthar Muhammad Adamu, and two Bureau De Change companies, over claims that they were involved in terrorism financing.
The government said the move would support on-going efforts to cut off financial channels used by terrorist groups, both within Nigeria and in other countries, even as the government named more persons it said have been sanctioned over terrorism financing.
In a statement on Wednesday by the Nigerian Financial Intelligence Unit (NFIU), the Nigeria Sanctions Committee said the action by the United States Office of Foreign Assets Control shows stronger cooperation between countries in the fight against terrorism financing.
According to the committee, Adamu, together with Nine-to-Nine BDC Limited and Generation Currency BDC Limited, had already been added to Nigeria’s sanctions list on June 18, 2026, before the United States announced its own sanctions.
The committee explained that the decision followed several months of intelligence gathering, financial investigations, and security assessments carried out by relevant government agencies.
It stated that findings from the investigations gave authorities reason to believe that the affected individuals and companies helped support, fund, or facilitate the activities of the Islamic State West Africa Province (ISWAP) and other related terrorist groups.
The committee added that the US sanctions would make it more difficult for suspected terrorism financiers to access the international financial system.
Besides Mukthar Muhammad Adamu, Nigerian authorities also listed Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, and Babangida Muhammed Adamu Hammajam.
The organisations named on the sanctions list include Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited, and Nine-to-Nine BDC Limited.
The committee also directed banks, financial institutions, and designated non-financial businesses to fully obey all sanctions requirements.
It said affected assets must be frozen, suspicious transactions should be reported, and authorities must be informed whenever a match with sanctioned individuals or entities is discovered.
The committee also commended the Federal Ministry of Justice, the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), and the Nigerian Financial Intelligence Unit (NFIU) for working together to investigate and disrupt financial networks linked to terrorism.
The government reaffirmed its commitment to collaborating with local institutions and international partners to protect the country’s financial system and stop terrorist groups from obtaining funds that could help sustain their operations.
