The Federal Government has instructed financial institutions and designated non-financial businesses and professions to freeze the assets of terrorists financiers.
This follows sanctions imposed on a Nigerian financier of ISIS, along with his three Bureaux De Change in Lagos and Kano, by the US government.
It will be recalled that the US government had used its Executive Order 13224, to sanction the Lagos-based financier, identified as Mukhtar Adamu Muhammad, 35, and the three BDCs, including Generation Currency Bureau De Change Limited; Nine to Nine Exchange Bureau De Change Limited, and Manhattan Bureau De Change Limited; for allegedly moving funds for ISIS, as part of a sweeping action targeting the group’s financial networks across Europe, the Middle East and West Africa.
Aside from Mukhtar Muhammad Adamu and three BDCs named by the US government, the Federal Government had earlier on June 18, 2026, added six more names to the list of those to be sanctioned.
They include Ibrahim Yakubu Ogirima; Adamu Chiroma; Ibrahim Abubakar; Abdullahi Umar Usman; Babangida Muhammed, Adamu Hammajam; and Abbal Bako & Sons Bureau De Change Limited.
Reacting to the US action yesterday, the Nigerian Sanctions Committee said in a statement: “The Federal Government reiterates its directive to all financial institutions and designated non-financial businesses and professions to comply fully with all sanctions obligations, including asset-freezing requirements, the filing of Suspicious Transaction Reports and the reporting of relevant matches to the appropriate authorities.’’
