US sanctions Lagos-based ISIS financier and Bureaux de Change in global terror crackdown

By Nkiruka Nnorom

The United States has imposed sanctions on Mukhtar Adamu Muhammad, a 35‑year‑old financier based in Lagos, and on three bureaux de change associated with him. The action, carried out under Executive Order 13224, accuses the individuals and businesses of moving funds for the Islamic State (ISIS) as part of a broader effort to disrupt the group’s financial networks across Europe, the Middle East, and West Africa.

The sanctions target a network that operates in France, Turkey, Syria, and Nigeria. Washington says the network helps finance ISIS attacks, supports its affiliates, and threatens civilians, including religious minorities.

Mukhtar Adamu Muhammad, also known as Adamu Mukhtar and Muhammad Mukhtar, is listed with an address in Agege, Lagos State, and is directly linked to ISIS‑West Africa.

The Department of State’s Office of Foreign Assets Control (OFAC) added Muhammad to an updated sanctions list, noting that he served as a conduit for ISIS financing through his bureaux de change in Lagos and Kano states.

OFAC named the following bureaux de change: Generation Currency Bureau De Change Limited and Nine to Nine Exchange Bureau De Change Limited, both located in Lagos State, and Manhattan Bureau De Change Limited, based in Kano.

The statement also identified a France‑based facilitator who supplied explosives information to ISIS supporters, and a Syria‑based operator who used cryptocurrency to transfer funds for ISIS associates in several countries, including the United States.

“Under the leadership of President Trump, the United States is dismantling ISIS’s ability to finance terrorism around the world,” said spokesperson Thomas “Tommy” Pigott. “We are cutting off the financial lifelines that enable ISIS to fund attacks, support its regional affiliates, and threaten civilians, including religious minorities.”

“These actions reflect the United States’ unrelenting pressure on ISIS, which continues to decentralize its operations and rely on financial intermediaries to connect its global network,” Pigott added.

The U.S. also reaffirmed its partnership with Nigeria, noting Abuja’s role in the May 16, 2026 operation that killed Abu‑Bilal al‑Minuki, the number two official in ISIS.

Washington said it would continue to use “every diplomatic and legal tool available” to hold ISIS and its supporters accountable, and reaffirmed its commitment to protecting religious minorities and working with partners to eliminate the threat.

“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,” the Department said. “We remain fully committed to protecting American lives, defending religious minorities, and working with international partners to eliminate the threat that ISIS poses to global peace and security.”

All individuals and entities have been added to the Office of Foreign Assets Control’s Specially Designated Nationals list under Executive Order 13224. The designation blocks their U.S. assets and prohibits transactions with Americans.

ISIS was first designated as a Specially Designated Global Terrorist Organisation in 2004 and a Foreign Terrorist Organisation later that year.