The United States government has imposed sanctions on a Lagos-based Nigerian businessman, Mukhtar Adamu Muhammad, and three bureaux de change allegedly linked to him over claims that they facilitated financial transactions for the Islamic State West Africa Province (ISWAP).
The sanctions were announced by the U.S. Department of the Treasury through its Office of Foreign Assets Control (OFAC) as part of a broader international effort to disrupt financial networks connected to the Islamic State (ISIS) and its affiliated groups operating across Europe, the Middle East, and West Africa.
According to U.S. authorities, the latest measures target individuals and companies allegedly involved in moving funds that support terrorist activities. Washington stated that the action is aimed at cutting off financial channels used by ISIS to sustain its operations, coordinate attacks, and strengthen its regional affiliates.
Among those named in the sanctions is Mukhtar Adamu Muhammad, a Nigerian national identified by U.S. officials as an alleged financial facilitator for ISWAP. OFAC claimed that he played a role in conducting financial transactions and arranging money transfers on behalf of the terrorist group.
The Treasury Department listed an address linked to Muhammad in the Agege area of Lagos State and identified him as a key figure in the alleged financial network under investigation.
In addition to the individual sanctions, the U.S. government also targeted three Nigerian money service businesses reportedly owned, controlled, or directed by Muhammad. The affected firms include Nine To Nine Exchange Bureau De Change Limited, located within the FAAN Complex on Airport Road in Ikeja, Lagos; Manhattan Bureau De Change Limited, based on Murtala Mohammed Way in Kano; and Generation Currency Bureau De Change Limited, which operates in Lagos.
According to information released by OFAC, the three businesses were legally incorporated in Nigeria between 2017 and 2021 and were allegedly used to facilitate financial activities linked to the sanctioned network.
The latest action forms part of a wider counter-terrorism strategy by the United States to weaken the financial infrastructure of extremist organizations. By targeting individuals and businesses suspected of enabling money flows to terrorist groups, authorities hope to limit the operational capabilities of ISIS and its affiliates across various regions.
The sanctions are expected to freeze any assets or financial interests connected to the designated individuals and entities within U.S. jurisdiction. They also prohibit American citizens and businesses from engaging in transactions with those listed under the sanctions programme.
The development underscores the growing international focus on disrupting terror financing networks and strengthening global cooperation in the fight against extremist groups operating across borders.
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