The Federal Government has directed all financial institutions and designated non-financial businesses to maintain strict compliance with global anti-terrorism standards by immediately freezing the assets of terrorist financiers.
This directive follows a coordinated crackdown by the United States government, which invoked Executive Order 13224 to sanction a 35-year-old, Lagos-based ISIS financier, Mukhtar Adamu Muhammad.
The US action also targeted his three Bureaux De Change (BDCs)—Generation Currency BDC, Nine to Nine Exchange BDC, and Manhattan BDC—operating across Lagos and Kano for allegedly facilitating illicit fund transfers for the terrorist group’s global network.
The global sanctions closely align with Nigeria’s domestic enforcement strategies.
The Nigerian Sanctions Committee had previously updated its national sanctions list on June 18, 2026, blacklisting Muhammad, the three BDCs, and six other individuals: Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed, and Adamu Hammajam, alongside Abbal Bako & Sons BDC.
The committee disclosed that these designations followed extensive intelligence gathering and inter-agency assessments by 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), which linked the suspects to the funding of the Islamic State West Africa Province (ISWAP).
Welcoming the development, the Nigerian Sanctions Committee stated that the US Office of Foreign Assets Control (OFAC) designation effectively puts Washington’s diplomatic weight behind Nigeria’s ongoing efforts to choke off terrorist financial lifelines.
The committee reiterated that financial institutions must proactively file Suspicious Transaction Reports (STRs) and report any asset matches to appropriate authorities. “Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system,” the statement read, praising the Ministry of Justice and the Office of the National Security Adviser for anchoring the collaborative process.
In a parallel security breakthrough, the military announced that it has successfully dismantled the operational backbone of major terrorist groups causing instability across the country.
Speaking at the Defense Intelligence Agency (DIA) Second Quarter Operations Briefing in Abuja, the Chief of Defence Intelligence (CDI), Lt. General Emmanuel Undiandeye, revealed that relentless kinetic operations have resulted in the decapitation of top Boko Haram and ISIS leadership structures, taking out several frontline commanders and foot soldiers in the process.
According to Lt. Gen. Undiandeye, the military’s recent operational successes are heavily anchored on enhanced intelligence, superior technological capabilities, and robust synergy with international allies, including the United States, United Kingdom, and France.
Corroborating this stance, the Director of Foreign Liaison, Major General Ojogbane Adegbe, emphasized that the quarterly briefing serves as a vital tool to brief foreign defense attachés on the true security architecture of Nigeria and the wider Sahel region, reinforcing collective diplomatic and military efforts to safeguard citizens and secure the nation’s borders.
