Thu. Jun 25th, 2026
The Federal Government has welcomed the decision of the United States Office of Foreign Assets Control (OFAC) to sanction three Nigerian bureau de change operators over alleged links to terrorism financing.

The endorsement was contained in a statement issued by the Nigeria Sanctions Committee and made available on Wednesday.

According to the committee, the affected entities include Mukthar Muhammad Adamu, Nine to Nine BDC Limited, and Generation Currency BDC Limited.

It noted that the US action followed the recent inclusion of the individuals and companies on the Nigeria Sanctions List published on June 18, 2026.

The committee said the sanctions were the outcome of extensive intelligence gathering, financial investigations, and inter-agency assessments.

It explained that the investigations established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or contributed to the activities of the Islamic State West Africa Province (ISWAP) and other associated terrorist networks.

The sanctions list also includes Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed Adamu Hammajam, and Abbal Bako & Sons Bureau De Change Limited.

The Federal Government directed financial institutions and designated non-financial businesses and professions to maintain full compliance with sanctions obligations, including asset-freezing measures, suspicious transaction reporting, and the disclosure of relevant matches to appropriate authorities.

The committee 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 in combating terrorism financing.

It reaffirmed Nigeria’s commitment to preventing terrorists and their financiers from exploiting the country’s financial system and pledged continued collaboration with local and international partners to strengthen national security and protect the integrity of the financial sector.

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