By Chimezie Godfrey
The Nigeria Sanctions Committee has welcomed the decision by the United States Office of Foreign Assets Control (OFAC) to designate Muktar Muhammad Adamu and two Bureau De Change firms linked to him over alleged terrorism financing activities.
The Committee, in a statement on Wednesday, said the U.S. action followed the inclusion of Adamu, Nine to Nine BDC Limited and Generation Currency BDC Limited on Nigeria’s Sanctions List published on June 18, 2026.
According to the Committee, the designation of the individuals and entities was based on extensive intelligence gathering, financial investigations and inter-agency assessments which established reasonable grounds to believe they facilitated, financed or supported the activities of the Islamic State West Africa Province (ISWAP) and related terrorist networks.
The latest additions to the Nigeria Sanctions List include six individuals and three companies alleged to have links with terrorist financing operations.
The Committee said the Federal Government had directed all financial institutions and designated non-financial businesses and professions to comply fully with sanctions obligations, including asset-freezing measures, filing of Suspicious Transaction Reports and reporting of all relevant matches to the appropriate authorities.
It 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 disrupting financial networks linked to terrorism.
The Committee reaffirmed Nigeria’s commitment to preventing terrorists and their financiers from exploiting the country’s financial system, stressing that the government would continue to work with domestic and international partners to strengthen financial integrity and national security.
Further details on the Nigeria Sanctions List are available on the official website of the Nigeria Sanctions Committee.
Nigeria Welcomes U.S. Sanctions on Terror Financing Suspects
