The Nigeria Sanctions Committee (NIGSAC), has welcomed the recent inclusion of Muktar Muhammad Adamu and two Bureau De Change companies—Nine to Nine BDC Limited and Generation Currency BDC Limited—for their alleged links to terrorism financing by the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC).
The Committee noted that the U.S. action aligns with Nigeria’s recent update of its national sanctions list, which was approved and published on June 18, 2026.
According to the NIGSAC, the sanctions followed extensive intelligence gathering, financial investigations and inter-agency assessments that 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.
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The individuals added to the Nigeria Sanctions List are:
Ibrahim Yakubu Ogirima (NLISWi.19)
Muktar Muhammad Adamu (NLISWi.20)
Adamu Chiroma (NLISWi.21)
Ibrahim Abubakar (NLISWi.22)
Abdullahi Umar Usman (NLISWi.23)
Babangida Muhammed Adamu Hammajam (NLISWi.24).
The entities listed are:
Abbal Bako & Sons Bureau De Change Limited (NLISWe.25)
Generation Currency BDC Limited (NLISWe.26)
Nine to Nine BDC Limited (NLISWe.27).
The Nigerian Government reiterated its directive to financial institutions and designated non-financial businesses and professions to maintain full compliance with sanctions, obligations, including asset-freezing measures, the filing of Suspicious Transaction Reports (STRs), and the reporting of all relevant matches to appropriate authorities.
The Committee commended the collaborative efforts of the Federal Ministry of Justice, the Office of the National Security Adviser (ONSA), the Central Bank of Nigeria (CBN), the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), and the Nigerian Financial Intelligence Unit (NFIU) in strengthening measures to disrupt terrorist financing networks.
It emphasised that Nigeria remains committed to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.
The government also reaffirmed its resolve to continue working closely with domestic stakeholders and international partners to safeguard national security, strengthen financial integrity, and contribute to global efforts aimed at combating terrorism and its financing.
Further information on the Nigeria Sanctions List is available on the official portal of the Nigeria Sanctions Committee..
