The United States government has designated a Nigerian businessman, Mukhtar Adamu, and three bureaux de change companies as terrorist facilitators over their alleged involvement in financing activities linked to the Islamic State of Iraq and Syria (ISIS).
The action, announced by the administration of President Donald Trump on Monday, forms part of broader efforts by U.S. authorities to disrupt financial networks supporting terrorist organisations across multiple regions.
The sanctioned bureaux de change are Generation Currency Bureau De Change Limited in Lagos, Manhattan Bureau De Change Limited in Kano, and Nine to Nine Exchange Bureau De Change Limited in Lagos. According to the U.S. government, the firms are allegedly owned, controlled or directed by Adamu.
U.S. authorities identified Adamu, who was born on August 2, 1990, and resides in the Agege area of Lagos, as having allegedly provided financial, material or technological support, as well as goods and services, to ISIS-West Africa (ISIS-WA).
“Nine Exchange, Manhattan Bureau, and Generation Currency are being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, or having acted or purported to act on behalf of, directly or indirectly, Mukhtar Adamu Muhammad,” the U.S. government stated.
The sanctions were announced alongside measures targeting other individuals and entities accused of facilitating financial transactions for ISIS across several countries.
In a statement, U.S. Department of State spokesperson Thomas Pigott said the designated individuals and organisations played roles in moving funds across international networks that support ISIS operations.
According to him, the network’s activities stretched from France and Syria to Türkiye and Nigeria.
“We are cutting off the financial lifelines from around the world that enable ISIS to fund attacks, support its regional affiliates, and threaten civilians, including religious minorities,” Pigott said.
“These actions reflect the United States’ unrelenting pressure on ISIS, which continues to decentralise its operations and rely on financial intermediaries to connect its global network,” he added.
Also designated were France-based Miloud Abderrahmane, also known as Abderrahmane, who was accused of assisting ISIS with information relating to explosives, and Abdelhakim Boukich, who reportedly operates a Syria-based money service business used to transfer funds for ISIS supporters through cryptocurrency channels to countries including Norway, Belgium, the Netherlands, South Africa and the United States.
Another individual named in the sanctions is Mohamad Alhmidan, based in Türkiye, who had previously been designated by the U.S. Office of Foreign Assets Control (OFAC) in 2016. U.S. authorities alleged that he facilitated the movement of funds from Syria to other regions using cryptocurrency transactions.
Under the sanctions regime, all property and interests belonging to the designated individuals and entities that are located in the United States or under the control of U.S. persons are to be blocked and reported to OFAC.
“In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 per cent or more by one or more blocked persons are also blocked.
“Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis,” the U.S. Treasury said.
The U.S. government also warned that financial institutions and individuals conducting transactions with the designated persons and entities could face exposure to secondary sanctions.
In Nigeria, efforts to obtain official reactions were unsuccessful. The spokesperson for the Central Bank of Nigeria, Hakama Sidi Ali, did not respond to requests for comment.
The spokesperson for the Nigerian Army, Onyechi Anele, declined to comment on whether the military had prior knowledge of the sanctioned firms and individuals, directing enquiries to the police.
Police spokesperson Anietie Iniedu said he would seek clarification from the Nigeria Police Force National Cybercrime Centre before providing a response.
The sanctions come amid ongoing international efforts to combat terrorism financing, particularly in West Africa, where ISIS-West Africa Province remains active in parts of the North-East and the Lake Chad Basin region.
The United States reaffirmed its commitment to security cooperation with Nigeria, citing recent joint counterterrorism successes, including the reported elimination of Abu-Bilal al-Minuki, identified by U.S. authorities as ISIS’s second-in-command globally.
“We will continue to use every diplomatic and legal tool available to hold ISIS and its supporters accountable – wherever they operate, and however they move money,” the U.S. government said.
