Nigeria names six persons, three entities sanctioned for terrorism financing

The Nigerian government has released a list of six persons and three entities sanctioned for terrorism financing.

In a statement on Tuesday, Secretary of the Nigerian Sanctions Committee, Beatrice Jedy-Agba, said the list was approved and published on 18 June.

This comes a day after the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the sanctions on Mukhtar Adamu, and three bureau de change companies over their alleged involvement in financing the terrorist group Islamic State West Africa Province (ISWAP).

OFAC, in its announcement on Tuesday, accused Mr Adamu, a Lagos-based bureau de change operator, of facilitating financial transactions and money transfers on behalf of ISWAP.

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On Wednesday, the Nigerian Sanctions Committee, released a broader list of six persons and three entities similarly sanctioned in Nigeria for terrorism financing activities.

The list includes Mr Adamu and two companies – Nine to Nine BDC and Generation BDC Limited – named in the US sanctions on Monday.

Mrs Jedy-Agba, who doubles as the Solicitor-General of the Federation and Permanent Secretary, Federal Minister of Justice, said the US sanctions followed “the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026.”

She welcomed the inclusion of Mr Adamu and the two firms in the US designations.

The fresh list of designations by the Nigerian government, including Mr Adamu and the two firms linked to him, is as follows:

1. Ibrahim Yakubu Ogirima (NLISWi.19)

2. Muktar Muhammad Adamu (NLISWi.20)

3. Adamu Chiroma (NLISWi.21)

4. Ibrahim Abubakar (NLISWi.22)

5. Abdullahi Umar Usman (NLISWi.23)

6. Babangida Muhammed Adamu Hammajam (NLISWi.24)

7. Abbal Bako & Sons Bureau De Change Limited (NLISWe.25)

8. Generation Currency BDC Limited (NLISWe.26)

9. Nine to Nine BDC Limited (NLISWe.27)

Mrs Jedy-Agba asked banks and designated non-financial businesses and professions, including lawyers, accountants and others, in Nigeria to immediately give effect to the designation of the six persons and three entities by freezing their assets and reporting them, any matches and their transactions to the appropriate authorities.

“The Federal Government reiterates its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions’ obligations, including asset-freezing requirements, the filing of Suspicious Transaction Reports and the reporting of all relevant matches to the appropriate authorities,” the statement said.

The US sanctions also mean that all property and interests in property belonging to the designated individuals and entities that are within the United States or under the control of US persons are blocked. Also, US citizens and businesses are also generally prohibited from conducting transactions with them unless authorised by OFAC.

OFAC further warned that foreign financial institutions and other persons that knowingly facilitate significant transactions or provide material support to the sanctioned individuals or entities could themselves face US sanctions.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) had said in a statement on Monday that Mr Muhammad, also known as “Mukhtar Adamu Muhammad”, of facilitating financial transactions and money transfers on behalf of ISIS-West Africa, popularly known as Islamic State West Africa Province (ISWAP).

Sanctioned by OFAC along with Mr Muhammad are Nine To Nine Exchange Bureau De Change Limited, Generation Currency Bureau De Change Limited, and Manhattan Bureau De Change Limited, which OFAC alleged are owned, controlled or directed by Mr Muhammad and were used to move funds for the terrorist organisation.

PREMIUM TIMES reported that ISWAP, a second breakaway faction of Boko Haram, has been responsible for years of deadly attacks across Nigeria’s North-east and the Lake Chad region.

Read the full statement of the Nigerian Sanctions Committee below.

Press Statement

The Nigerian Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC) yesterday.

These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026. The naming of the three companies and six persons followed extensive intelligence gathering, financial investigations, and inter-agency assessments which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported or otherwise, contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.

The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are:

1. Ibrahim Yakubu Ogirima (NLISWi.19)

2. Muktar Muhammad Adamu (NLISWi.20)

3. Adamu Chiroma (NLISWi.21)

4. Ibrahim Abubakar (NLISWi.22)

5. Abdullahi Umar Usman (NLISWi.23)

6. Babangida Muhammed Adamu Hammajam (NLISWi.24)

7. Abbal Bako & Sons Bureau De Change Limited (NLISWe.25)

8. Generation Currency BDC Limited (NLISWe.26)

9. Nine to Nine BDC Limited (NLISWe.27)

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The Federal Government reiterates its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions’ obligations, including asset-freezing requirements, the filing of Suspicious Transaction Reports and the reporting of all relevant matches to the appropriate authorities.

The Nigeria Sanctions Committee commends the work of the Federal Ministry of Justice, Office of the National Security Adviser, Central Bank of Nigeria, Department of State Services, Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.

Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system. The Government will continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity and contribute to global efforts to combat terrorism and its financing.

Further information on the Nigeria Sanctions List is available on https://nigsac.gov.ng/

END

Signed

Secretary, Nigerian Sanctions Committee