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The Nigerian Government has applauded the recent sanctions imposed by the United States Office of Foreign Assets Control (OFAC) on three Nigerian bureau de change operators over alleged terrorism financing.
In a statement released on Wednesday, the Nigeria Sanctions Committee said it welcomed the inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC and Generation BDC Limited on the OFAC sanctions list.
“The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC) yesterday.
“These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026,” the committee stated.
It explained that the designation of the individuals and companies followed extensive intelligence gathering, financial investigations and inter-agency assessments, which established reasonable grounds to believe they facilitated, financed, supported or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.
“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 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), Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), Nine to Nine BDC Limited (NLISWe.27),” the statement read in part.
The Nigerian Government reiterated its directive to all financial institutions and designated non-financial businesses and professions to continue complying with all sanctions obligations, including freezing assets, filing suspicious transaction reports and reporting all relevant matches to the appropriate authorities.
The committee commended the Ministry of Justice, Office of the National Security Adviser, Central Bank of Nigeria, Department of State Services, Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit for their efforts to prevent terrorist groups from accessing financial resources.
It added that Nigeria remained committed to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.
The committee also stated that the Nigerian Government would continue working closely with domestic stakeholders and international partners to safeguard national security, strengthen financial integrity and support global efforts to combat terrorism and terrorism financing.
