Nigeria Sanctions Committee lauds US inclusion of Adamu, BDCs among terrorism financiers
By Victoria Frances
THE Nigeria Sanctions Committee (NSC) has welcomed the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine bureau de change (BDC) organizations, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC) as financiers of terrorism.
A statement by the NSC made available to Realnews on Wednesday, June 24, stated that “These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026.”
“The naming of the three companies and six persons followed extensive intelligence gathering, financial investigations, and inter-agency assessments, which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.
“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi. 20), Adamu Chiroma (NLISWi. 21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi. 23), Babangida Muhammed Adamu Hammajam, (NLISWi. 24), Abbal Bako & Sons Bureau De Change Limited (NLISWe. 25), Generation Currency BDC Limited (NLISWe. 26) and Nine to Nine BDC Limited (NLISWe. 27),” it said.
The federal government reiterated 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 Nigeria Sanctions Committee commends the work of the Federal Ministry of Justice, Office of the National Security Adviser, Central Bank of Nigeria, Department of State Services, Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.
“Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system. The Government will continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing,” NSC said.
Realnews reports that Nigeria being a member of the United Nations and in pursuit of its commitment to international peace and security, as enunciated under the Charter of the United Nations, enacted the Terrorism (Prevention and Prohibition) Act, 2022, which established the Nigeria Sanctions Committee as the national body responsible for the implementation of the United Nations Security Council Resolutions (“UNSCRs”) on Targeted Financial Sanctions.
On May 12, 2022, President Muhammadu Buhari passed the Terrorism (Prevention and Prohibition) Act, 2022 (TPPA) into law, and on the same day, the attorney-general of the Federation issued a regulation for the Implementation of Targeted Financial Sanctions Related to Terrorism, Terrorism Financing and Other Related Matters, 2022.
The law gave Nigeria a legal framework for the implementation of United Nations Security Council Resolutions (UNSCRs) related to counter-financing of terrorism and counter-proliferation financing as well as in line with the Financial Action Task Force (FATF) Recommendations. The TPPA incorporated the Nigeria Sanctions Committee (NSC) which was earlier established by the Terrorism Prevention (Freezing of International Terrorist Funds and Other Related Measures) Regulations, 2013 (TPR). The TPPA also expanded the functions of the NSC by identifying it as the body responsible for the implementation of UNSCRs related to proliferation financing.
A.I
June 24, 2026
Tags: Adamu Chiroma Mukthar Muhammad Adamu Nigeria Sanctions Committee
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