Nigeria places sanctions on six individuals and three companies for financing terrorism

The Nigerian government has released names of six individuals and three companies facing sanctions for financing terrorism.

On Tuesday, Beatrice Jedy-Agba, Secretary of the Nigerian Sanctions Committee, announced that the list was approved and published on June 18.

This follows a day after the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Mukhtar Adamu and three bureau de change companies for allegedly supporting the terrorist group Islamic State West Africa Province (ISWAP).

OFAC accused Mr Adamu, a bureau de change operator based in Lagos, of facilitating money transfers and transactions for ISWAP.

On Wednesday, the Nigerian Sanctions Committee shared a longer list of six individuals and three entities also sanctioned for terrorism financing activities.

The list includes Mr Adamu along with two companies, Nine to Nine BDC and Generation BDC Limited, which were mentioned in the US sanctions the day before.

Mrs Jedy-Agba, who is also the Solicitor-General of the Federation and Permanent Secretary at the Federal Ministry of Justice, said the US sanctions followed the addition of Adamu and his companies to the Nigeria Sanctions List approved and published on June 18, 2026.

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

The new list from the Nigerian government, which includes Mr Adamu and the two firms related to him, is as follows:

1. Ibrahim Yakubu Ogirima (NLISWi.19)

1. Muktar Muhammad Adamu (NLISWi.20)

1. Adamu Chiroma (NLISWi.21)

1. Ibrahim Abubakar (NLISWi.22)

1. Abdullahi Umar Usman (NLISWi.23)

1. Babangida Muhammed Adamu Hammajam (NLISWi.24)

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

1. Generation Currency BDC Limited (NLISWe.26)

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

Mrs Jedy-Agba urged banks and designated non-financial businesses, including lawyers and accountants, to immediately act on the sanctions. They should freeze the assets of the six individuals and three companies and report any matches to the right authorities.

“The Federal Government repeats its instruction to all financial institutions and designated non-financial businesses to follow all sanctions’ requirements, including asset freezing, filing Suspicious Transaction Reports, and reporting relevant matches,” the statement said.

The US sanctions mean that any property or interests owned by those designated in the US or controlled by US persons are blocked. US citizens and businesses cannot conduct transactions with them unless approved by OFAC.

OFAC also warned that foreign financial institutions or others that knowingly assist the sanctioned individuals or entities could face US sanctions themselves.

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) stated on Monday that Mr Muhammad, also known as “Mukhtar Adamu Muhammad”, was facilitating financial transactions and transfers for ISIS-West Africa, or ISWAP.

Sanctioned alongside Mr Muhammad are Nine To Nine Exchange Bureau De Change Limited, Generation Currency Bureau De Change Limited, and Manhattan Bureau De Change Limited. OFAC claims these companies are owned or controlled by Mr Muhammad and were used to move money for the terrorist group.

PREMIUM TIMES reported that ISWAP, a breakaway faction of Boko Haram, has been behind many deadly attacks in Nigeria’s North-east and the Lake Chad area.

The Nigerian Sanctions Committee supports the recent inclusion of Mukhtar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the US Office of Foreign Assets Control (OFAC).

These designations followed the addition of Adamu and his companies to the Nigeria Sanctions List approved on June 18, 2026. The naming of the three companies and six individuals followed intelligence gathering, financial investigations, and assessments that showed they facilitated or funded ISWAP and other terrorist networks.

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

1. Ibrahim Yakubu Ogirima (NLISWi.19)

1. Muktar Muhammad Adamu (NLISWi.20)

1. Adamu Chiroma (NLISWi.21)

1. Ibrahim Abubakar (NLISWi.22)

1. Abdullahi Umar Usman (NLISWi.23)

1. Babangida Muhammed Adamu Hammajam (NLISWi.24)

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

1. Generation Currency BDC Limited (NLISWe.26)

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

The Federal Government reaffirms its directive to all financial institutions and designated non-financial businesses to comply with sanctions’ requirements, including asset-freezing and filing Suspicious Transaction Reports.

The Nigeria Sanctions Committee praises the Federal Ministry of Justice, 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 their efforts to stop terrorist groups from getting resources.

Nigeria is determined to ensure that terrorists and their financiers do not find safety in the country’s financial system. The Government will keep working with local and international partners to protect national security, strengthen financial integrity, and assist in the fight against terrorism and its financing.