Security organizations have begun formal inquiries into six individuals and three Bureau de Change firms after the Nigeria Sanctions Committee identified them for alleged ties to terrorist funding. These parties have been summoned for questioning as the government works to dismantle financial networks supporting extremism.
Financial institutions and related business entities have been ordered to locate and seize all assets and funds connected to these suspects, following the guidelines established by the Terrorism (Prevention and Prohibition) Act of 2022 and United Nations mandates. Kingsley Amaku of the Nigeria Financial Intelligence Unit confirmed these entities were sanctioned on June 18 for allegedly supporting ISWAP and its affiliates.
The individuals named include Muktar Muhammad Adamu, Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, and Babangida Muhammed Adamu Hammajam. The targeted firms are Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited, and Nine to Nine BDC Limited. These actions stem from thorough financial investigations and international cooperation.
Additionally, federal agencies reported broad progress in internal security. Since 2017, the Mass Trial Programme has resulted in 1,721 terrorism-related convictions, with 865 achieved in 2026 alone. Military operations during the first half of 2026 led to the rescue of over 1,500 victims and the neutralization of nearly 1,600 insurgents. Meanwhile, the Nigeria Customs Service reported ₦3.35 trillion in revenue alongside major seizures of illicit currency and drugs, while the EFCC secured 915 financial crime convictions between January and April 2026.