The United States has imposed terrorism-related sanctions on three Nigerian bureaux de change and their alleged owner, accusing them of facilitating financial transactions linked to the Islamic State West Africa Province (ISWAP).
The sanctions, announced by the Treasury’s Office of Foreign Assets Control and the State Department, named Mukhtar Adamu Muhammad as an alleged ISWAP financial facilitator who conducted money transfers and provided financial services on the group’s behalf.
Also designated were Nine to Nine Exchange Bureau de Change Limited, Manhattan Bureau de Change Limited and Generation Currency Bureau de Change Limited — firms US authorities say Muhammad owned, controlled or directed and used to move funds tied to ISIS-linked activities.
The action was part of a broader operation targeting three individuals and six entities across West Africa, Europe and the Middle East allegedly involved in raising, transferring and concealing funds for ISIS globally. Also sanctioned were France-based Miloud Abderrahmane, accused of facilitating transactions and distributing bomb-making instructions, and Syria-based Abdelhakim Boukich, accused of using cryptocurrency to move funds to ISIS-linked operatives.
Treasury said Muhammad had materially supported ISIS-West Africa through financial, material or technological assistance. All property within US jurisdiction belonging to the designated parties has been blocked, and Americans are barred from transacting with them.
The move comes amid intensified US-led efforts to disrupt terrorist financing across the Lake Chad Basin, where ISWAP — which split from Boko Haram in 2016 — has carried out attacks on military formations, civilians and aid workers. Analysts say extremist groups increasingly exploit bureaux de change, cash couriers and crypto platforms to evade detection, and expect the sanctions to draw closer scrutiny to Nigeria’s money service sector.
