Amanze Chinonye
The United States government has imposed sanctions on a Lagos-based Nigerian, Mukhtar Adamu Muhammad, and three bureaux de change allegedly linked to him over claims that they facilitated financial transactions for the Islamic State West Africa Province (ISWAP), also known as ISIS-West Africa.
The sanctions were announced on Monday by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) as part of a broader action targeting ISIS financial networks operating across Europe, the Middle East, and West Africa.
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According to the Treasury Department, Muhammad, a Nigerian national resident in Agege, Lagos State, allegedly conducted money transfers on behalf of ISIS-West Africa and served as a financial facilitator for the terrorist group.
The U.S. government also sanctioned three Nigerian money service businesses that it said were owned, controlled, or directed by Muhammad. They are Nine to Nine Exchange Bureau de Change Limited, based in Ikeja, Lagos; Generation Currency Bureau de Change Limited, Lagos; and Manhattan Bureau de Change Limited, Kano.
In a statement accompanying the sanctions announcement, U.S. Treasury Secretary Scott Bessent said the action underscored Washington’s commitment to disrupting terrorist financing networks.
“ISIS continues to seek new methods and tools to finance terrorist attacks,” Bessent said. “The United States will leverage every tool at its disposal to crush ISIS’s remaining capabilities and protect American lives.”
The Treasury said the sanctions were imposed under Executive Order 13224, a U.S. counterterrorism authority used to target individuals and entities accused of providing material, financial, or technological support to terrorist organisations.
The action forms part of a wider operation against financial facilitators accused of helping ISIS move funds among its global affiliates. Also designated were French national Miloud Abderrahmane, Syria-based extremist financier Abdelhakim Boukich, and several money-transfer businesses operating in Syria and Türkiye.
According to OFAC, Boukich controlled Bitcoin Xchange, a Syria-based money service business accused of transferring funds on behalf of ISIS associates in several countries, including the United States, Belgium, the Netherlands, Norway, and South Africa.
The Treasury noted that sustained international counterterrorism pressure had forced ISIS to become increasingly decentralised, relying on regional affiliates and financial facilitators to move money and support operations across multiple jurisdictions.
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Referencing recent counterterrorism cooperation with Nigeria, the Treasury highlighted the May 16, 2026, killing of Abu-Bilal al-Minuki, described as ISIS’s second-in-command and head of its General Directorate of Provinces. The operation, according to the U.S. government, involved coordination between American authorities and the Nigerian government.
“As demonstrated by the May 16, 2026, killing of al-Minuki, the United States and Nigeria stand together in relentlessly pursuing and eliminating ISIS,” the Treasury stated.
Under the sanctions, all property and interests in property belonging to the designated individuals and entities that fall within U.S. jurisdiction are blocked. U.S. citizens and businesses are prohibited from conducting transactions with them unless specifically authorised.
The measures also expose foreign financial institutions that knowingly facilitate significant transactions for sanctioned persons to possible secondary sanctions, including restrictions on access to the U.S. financial system.
Neither Muhammad nor the affected Nigerian firms had publicly responded to the allegations as of the time of filing this report.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
