The United States government has designated a Nigerian national and three Nigeria-based companies among individuals and entities allegedly involved in financing and facilitating the operations of the Islamic State of Iraq and Syria (ISIS), as part of a broader effort to disrupt the terrorist group’s global financial network.
The sanctions were announced by the U.S. Department of State and target three individuals and six companies operating across Europe, the Middle East and West Africa. According to U.S. authorities, the affected persons and organizations played key roles in helping ISIS move funds across international borders.
In a statement, U.S. Department of State spokesperson Thomas Pigott said the latest action exposed a complex financial network stretching from France and Syria to Türkiye and Nigeria.
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 stated.
Among those designated is Mukhtar Adamu Muhammad, a Nigerian citizen reportedly residing at No. 45 Abimbola Street, off Capital Road, Morcas, Agege, Lagos State. The U.S. government linked him to the Islamic State West Africa Province (ISWAP), a faction affiliated with ISIS.
Also sanctioned were French national Miloud Abderrahmane and Dutch-Syrian national Boukich Abdelhakim, both accused of facilitating financial transactions and supporting ISIS activities.
Three companies operating in Nigeria were included in the sanctions list for allegedly being connected to the financial network linked to Mukhtar Adamu and ISIS. They are:
- Generation Currency Bureau De Change Limited, Lagos (RC 1555604);
- Manhattan Bureau De Change Limited, located at No. 59 Murtala Mohammed Way, Wapa, Kano (RC 1763824);
- Nine to Nine Exchange Bureau De Change Limited, Ikeja, Lagos (RC 1462752).
The U.S. Treasury and State Department alleged that these entities were used to facilitate financial transactions associated with terrorist activities.
Authorities also designated three foreign entities:
- Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi, based in Istanbul, Türkiye;
- Bitcoin Exchange Agent Idlib’s No.1 Coin Exchange, operating in Syria;
- Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi, also based in Istanbul, Türkiye.
According to U.S. officials, the companies allegedly formed part of a network used to transfer money and support ISIS operations.
Pigott emphasized that Washington would continue deploying diplomatic, legal and financial tools to weaken ISIS and dismantle its support structures 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. 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, he said.
The sanctions were imposed under Executive Order 13224, which empowers the U.S. government to target individuals and entities associated with terrorism. ISIS has remained on the list of Specially Designated Global Terrorist (SDGT) organizations since 2004.
The latest action underscores growing international efforts to disrupt terror financing channels and strengthen cooperation among governments in combating extremist groups operating across multiple regions.
