Nigeria’s campaign against terrorism financing has gained further international backing following fresh sanctions imposed by the United States on individuals and businesses previously identified by Nigerian authorities as allegedly supporting terrorist activities.
The Nigeria Sanctions Committee has welcomed the recent designation of Muktar Muhammad Adamu, Nine to Nine BDC Limited and Generation Currency BDC Limited by the United States Office of Foreign Assets Control (OFAC), describing the move as a significant step in the global effort to dismantle financial networks linked to terrorism.
The committee noted that the U.S. action came barely days after the inclusion of the affected individuals and entities in the updated Nigeria Sanctions List approved and published on June 18, 2026.
According to the committee, the designation followed extensive intelligence gathering, financial investigations and inter-agency assessments which established reasonable grounds to believe that the affected persons and entities facilitated, financed, supported or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.
The latest sanctions update added six individuals and three companies to the Nigeria Sanctions List.
The individuals are Ibrahim Yakubu Ogirima, Muktar Muhammad Adamu, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman and Babangida Muhammed Adamu Hammajam.
The corporate entities listed are Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited and Nine to Nine BDC Limited.
The committee reiterated the Federal Government’s directive to all financial institutions and designated non-financial businesses and professions to strictly comply with existing sanctions obligations, including the immediate freezing of assets linked to designated persons and entities, the filing of Suspicious Transaction Reports and the reporting of all relevant matches to appropriate authorities.
It also commended the collaborative efforts of key government agencies involved in identifying and disrupting terrorist financing networks.
Among the agencies acknowledged were the Federal Ministry of Justice, the Office of 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.
The committee stated that the coordinated efforts of the agencies have strengthened Nigeria’s ability to detect, investigate and disrupt financial channels used to support terrorism and violent extremism.
Reaffirming the government’s commitment to national security, the Nigeria Sanctions Committee stressed that terrorists and their financiers would find no safe haven within Nigeria’s financial system.
It added that the Federal Government would continue to work closely with domestic institutions and international partners to strengthen financial integrity, safeguard national security and contribute to global efforts aimed at combating terrorism and its financing.
The committee urged financial institutions, businesses and members of the public to regularly consult the Nigeria Sanctions List for updates on designated individuals and entities. Further information on the sanctions regime and the updated sanctions list is available on the official Nigeria Sanctions Committee website at https://nigsac.gov.ng/.
