The United States government has imposed sanctions on 35-year-old Mukhtar Adamu Muhammad, a Lagos resident accused of funding ISIS, alongside three associated currency exchange businesses. This move is part of a broader initiative to disrupt ISIS financial operations spanning West Africa, Europe, the Middle East, and beyond.
Acting under Executive Order 13224, Washington is targeting a criminal network active in Nigeria, France, Syria, and Turkiye. Officials state this group facilitates terror attacks and threatens vulnerable populations, including religious minorities. Muhammad, who resides in Agege, Lagos, is accused of acting as a financial conduit for ISIS-West Africa.
The Treasury Department’s Office of Foreign Assets Control identified the sanctioned firms as Generation Currency Bureau De Change Limited and Nine to Nine Exchange Bureau De Change Limited in Lagos, plus the Kano-based Manhattan Bureau De Change Limited. The broader investigation also uncovered facilitators in France providing explosive manufacturing intelligence and a Syria-based operative using cryptocurrency to move funds internationally.
Spokesperson Thomas “Tommy” Pigott stated that the U.S. is aggressively severing the financial channels that allow ISIS to maintain regional affiliates and carry out violence. He noted that as ISIS decentralizes, it becomes increasingly dependent on such intermediaries. Furthermore, the U.S. highlighted its ongoing security partnership with Nigeria, specifically referencing the recent operation that eliminated high-ranking ISIS official Abu-Bilal al-Minuki.
All designated individuals and entities are now on the Specially Designated Nationals list, which results in the freezing of any U.S.-held assets and a total ban on transactions with American citizens or companies.
