The Federal Government has placed six individuals and three companies on Nigeria’s sanctions list over their alleged involvement in financing terrorism, particularly activities linked to the Islamic State West Africa Province (ISWAP).
The designation was announced by the Secretary of the Nigerian Sanctions Committee, Mrs. Beatrice Jedy-Agba, who disclosed that the sanctions were approved and published on June 18, 2026, following intelligence gathering, financial investigations, and inter-agency assessments.
The development comes shortly after the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Mukhtar Muhammad Adamu and three Bureau De Change (BDC) operators for allegedly facilitating financial transactions on behalf of ISWAP.
According to the Nigerian Sanctions Committee, the persons and entities added to the Nigeria Sanctions List are:
- Ibrahim Yakubu Ogirima
- Muktar Muhammad Adamu
- Adamu Chiroma
- Ibrahim Abubakar
- Abdullahi Umar Usman
- Babangida Muhammed Adamu Hammajam
The sanctioned entities are:
- Abbal Bako & Sons Bureau De Change Limited
- Generation Currency BDC Limited
- Nine to Nine BDC Limited
Mrs. Jedy-Agba noted that the inclusion of Muktar Muhammad Adamu, Generation Currency BDC Limited and Nine to Nine BDC Limited on the Nigerian sanctions list preceded the recent action taken by the United States government.
She explained that investigations established reasonable grounds to believe that the designated individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of ISWAP and associated terrorist networks.
The Federal Government subsequently directed all financial institutions and designated non-financial businesses and professions, including lawyers, accountants and other regulated entities, to immediately enforce the sanctions by identifying and freezing any assets linked to the designated persons and companies.
The government also instructed institutions to file Suspicious Transaction Reports and report any matches or relevant transactions to the appropriate authorities.
“The Federal Government reiterates its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of Suspicious Transaction Reports and the reporting of all relevant matches to the appropriate authorities,” the statement said.
The Sanctions Committee commended the collaborative efforts of 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 in combating terrorism financing.
The committee further reaffirmed Nigeria’s commitment to denying terrorist organisations access to financial resources and strengthening cooperation with international partners to combat terrorism and its financing.
The latest sanctions add to ongoing efforts by Nigerian and international authorities to disrupt financial networks believed to be supporting terrorist activities in the country and across the Lake Chad region.