The United States government has sanctioned a Nigerian man, Mukhtar Adamu Muhammad, and three bureaux de change allegedly linked to him over accusations of financing the Islamic State (ISIS), in a move aimed at disrupting the terrorist group’s global funding network.
Muhammad, a 35-year-old resident of Agege, Lagos State, was among several individuals and entities designated by the U.S. Department of the Treasury under Executive Order 13224. Washington said the sanctions form part of a coordinated effort targeting ISIS financial facilitators operating across West Africa, the Middle East, and Europe.
Also sanctioned were three bureaux de change allegedly used to channel funds for the terrorist organisation — Generation Currency Bureau De Change Limited and Nine to Nine Exchange Bureau De Change Limited in Lagos State, as well as Manhattan Bureau De Change Limited in Kano State.
According to the updated sanctions list released by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), Muhammad, 35, also known as Adamu Mukhtar and Muhammad Mukhtar, was identified as a key ISIS financier with ties to ISIS-West Africa Province (ISWAP). He was listed with an address in Agege, Lagos State.
U.S. authorities alleged that Muhammad acted as a financial intermediary for ISIS, using a network of bureaux de change in Lagos and Kano states to move funds on behalf of the terrorist organisation.
The U.S. government said the wider network also involved a France-based facilitator accused of providing explosives-related information to ISIS supporters and a Syria-based operative who allegedly used cryptocurrency to transfer funds to ISIS associates in several countries, including the United States.
Announcing the sanctions, U.S. State Department spokesperson Thomas “Tommy” Pigott said the measures demonstrate Washington’s commitment to disrupting ISIS financing worldwide.
“Under the leadership of President Trump, the United States is dismantling ISIS’s ability to finance terrorism around the world. We are cutting off the financial lifelines that enable ISIS to fund attacks, support its regional affiliates, and threaten civilians, including religious minorities,” Pigott said.
He added that the action reflects sustained pressure on ISIS as the group increasingly relies on financial intermediaries to maintain its global operations.
The United States also acknowledged Nigeria’s cooperation in counterterrorism efforts, specifically referencing Abuja’s role in the May 16, 2026 operation that reportedly killed Abu-Bilal al-Minuki, described as the second-highest-ranking ISIS official.
Reaffirming its commitment to combating terrorism, Washington said it would continue to deploy diplomatic and legal measures against ISIS and its supporters wherever they operate.
“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,” the department stated.
The sanctioned individuals and entities have been added to OFAC’s Specially Designated Nationals (SDN) list, a designation that freezes any assets under U.S. jurisdiction and prohibits American individuals and businesses from engaging in transactions with them.
ISIS was first designated by the United States as a Specially Designated Global Terrorist Organisation in 2004 and was subsequently listed as a Foreign Terrorist Organisation later that year.
