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The Nigeria Sanctions Committee has welcomed the United States Office of Foreign Assets Control’s (OFAC) recent move to include Mukthar Muhammad Adamu and two bureau de change firms — Nine to Nine BDC and Generation BDC Limited — on its sanctions list, the committee said.
The additions follow a broader update to Nigeria’s own sanctions list approved and published on 18 June 2026, which named six individuals and three companies believed to have facilitated, financed or otherwise supported the Islamic State West Africa Province (ISWAP) and associated terrorist networks.
The names added on 18 June were Ibrahim Yakubu Ogirima, Muktar Muhammad Adamu, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed Adamu Hammajam, Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited and Nine to Nine BDC Limited.
The committee, in a statement, said the designations followed extensive intelligence gathering, financial investigations and inter-agency assessments that established ‘reasonable grounds’ linking the individuals and entities to terrorist financing activities.
The Federal Government reiterated its directive to all financial institutions and designated non-financial businesses and professions to comply fully with sanctions obligations, including freezing assets, filing Suspicious Transaction Reports and reporting relevant matches to appropriate authorities.
In its statement, the Nigeria Sanctions Committee commended 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 actions taken to deny terrorist groups access to financial resources.
“Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system,” the committee said, adding that the government would continue to work with domestic stakeholders and international partners to protect national security and strengthen financial integrity.
