The United States has imposed sanctions on a Lagos-based Nigerian, identified as Muhammad Mukhtar Adamu, accusing him of helping finance the terrorist group ISIS-West Africa through money-transfer and bureau de change operations. The sanctions were announced by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) on June 22–23, 2026.

According to the U.S. Treasury, Adamu allegedly facilitated financial transactions for ISWAP and was linked to three Nigerian bureaux de change that were also sanctioned:

Generation Currency Bureau De Change Limited

Manhattan Bureau De Change Limited

Nine to Nine Exchange Bureau De Change Limited

The Treasury says these entities were connected to Adamu and formed part of a broader ISIS financial network spanning West Africa, the Middle East, and Europe.

The sanctions freeze any assets of the designated individuals and entities that fall under U.S. jurisdiction and generally prohibit U.S. persons and businesses from conducting transactions with them. The measures are intended to disrupt terrorist financing channels used by ISIS and its affiliates.

The action was part of a broader U.S. crackdown targeting ISIS financial facilitators across several countries. OFAC simultaneously designated additional individuals and entities accused of moving funds for ISIS through money-transfer businesses and cryptocurrency networks.

Nigeria has faced a long-running insurgency involving extremist groups such as ISIS-West Africa and Boko Haram.

Authorities in both Nigeria and the United States have increasingly focused on tracking and disrupting the financial networks that sustain these groups.

This is one of the most significant recent U.S. sanctions actions involving Nigerian-based entities accused of supporting ISIS financing. Visit www.jocomms.com for more news.