US sanctions Nigerian, three firms over alleged ISIS financing network

The United States government has designated a Nigerian national and three Nigeria-based companies for allegedly facilitating financial transactions linked to the terrorist group Islamic State.

The action was announced by the United States Department of State as part of a wider crackdown targeting individuals and entities accused of helping ISIS move funds across Europe, the Middle East and West Africa.

According to State Department spokesperson Thomas Pigott, the latest sanctions target a financial network allegedly used by ISIS operatives to transfer money across multiple countries.

> “Today’s designations target three individuals and six entities operating across Europe, the Middle East and West Africa who have enabled ISIS to move money across borders, exposing a network that spans from France and Syria to Türkiye and Nigeria,” Pigott said.

Among those designated is Nigerian national Mukhtar Adamu Muhammad, who was listed by US authorities as being linked to Islamic State West Africa Province.

The three Nigeria-based firms sanctioned in connection with the alleged network are:

Generation Currency Bureau De Change Limited

Manhattan Bureau De Change Limited

Nine To Nine Exchange Bureau De Change Limited

US authorities also designated three foreign companies based in Türkiye and Syria that were allegedly involved in the same financial network.

The sanctions were imposed under Executive Order 13224, which authorises the US government to target individuals and organisations accused of supporting terrorism.

Under the designation, any assets of the listed individuals and companies within US jurisdiction are blocked, and US persons are generally prohibited from conducting transactions with them.

Pigott said Washington would continue using diplomatic, legal and financial measures to disrupt terrorist financing networks worldwide.

> “We will continue to use every diplomatic and legal tool available to hold ISIS and its supporters accountable — wherever they operate and however they move money,” he said.

The US has classified Islamic State as a Specially Designated Global Terrorist organisation since 2004.