US Blacklists Nigerian Bureaux De Change in a Fresh Terrorism Financing Crackdown

The United States has intensified its crackdown on terrorism financing by imposing sanctions on three Nigerian bureaux de change and their alleged owner, Mukhtar Adamu Muhammad. U.S. authorities accuse Muhammad of facilitating money transfers and providing financial services for the Islamic State West Africa Province (ISWAP), a designated terrorist organization.

The sanctioned entities – Nine to Nine Exchange Bureau de Change Limited, Manhattan Bureau de Change Limited, and Generation Currency Bureau de Change Limited – are alleged to be owned or controlled by Muhammad and served as conduits for funds linked to ISIS activities. This move places Nigeria's financial system under renewed international scrutiny and underscores the growing partnership between Washington and Abuja in dismantling terrorist networks in the Lake Chad region.

These sanctions are part of a broader international operation targeting three individuals and six entities across West Africa, Europe, and the Middle East that allegedly assist ISIS in raising, transferring, and concealing funds. The U.S. Treasury stated that Muhammad "materially assisted, sponsored, or provided financial, material, or technological support for, or goods and services to or in support of, ISIS-West Africa." The sanctions block all property and interests belonging to the designated individuals and entities under U.S. jurisdiction and prohibit transactions with them.

The action comes amid a complex and evolving terrorist threat in Nigeria. ISWAP emerged as a formidable Islamic State franchise after splitting from Boko Haram in 2016, carrying out numerous deadly attacks. The U.S. designation also targeted Miloud Abderrahmane in France, accused of financial transactions for ISIS affiliates and disseminating bomb-making instructions, and Abdelhakim Boukich in Syria, who allegedly used cryptocurrency for ISIS transfers.

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materially assisted, sponsored, or provided financial, material, or technological support for, or goods and services to or in support of, ISIS-West Africa