Nigeria, US Sanction Terror Financing Suspects, Firms

The Nigerian Sanctions Committee (NSC) has welcomed the decision by the United States Office of Foreign Assets Control (OFAC) to sanction Muktar Muhammad Adamu and two Bureau De Change companies, Nine to Nine BDC Limited and Generation Currency BDC Limited, over alleged links to terrorism financing.

In a statement signed by the Secretary of the Nigerian Sanctions Committee, the Federal Government said the U.S. designations came a day after Nigeria added the individuals and companies to its own sanctions list on June 18, 2026.

According to the committee, the sanctions followed extensive intelligence gathering, financial investigations and inter-agency assessments which established reasonable grounds to believe that the affected persons and entities facilitated, financed, supported or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.

The individuals and entities added to the Nigeria Sanctions List are:
Ibrahim Yakubu Ogirima (NLISWi.19)
Muktar Muhammad Adamu (NLISWi.20)
Adamu Chiroma (NLISWi.21)
Ibrahim Abubakar (NLISWi.22)
Abdullahi Umar Usman (NLISWi.23)
Babangida Muhammed Adamu Hammajam (NLISWi.24)
Abbal Bako & Sons Bureau De Change Limited (NLISWe.25)
Generation Currency BDC Limited (NLISWe.26)
Nine to Nine BDC Limited (NLISWe.27).

The Federal Government reiterated its directive to financial institutions and designated non-financial businesses and professions to comply fully with sanctions obligations, including freezing assets linked to designated persons and entities, filing Suspicious Transaction Reports and reporting all relevant matches to the appropriate authorities.

The committee also commended the 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 for their roles in disrupting terrorist financing networks.

It stressed that Nigeria remains committed to ensuring that terrorists and their financiers find no safe haven within the country’s financial system and pledged continued collaboration with domestic and international partners to strengthen financial integrity and combat terrorism financing.