The United States government has released the names of several individuals and companies funding terrorism in Nigeria, as part of a wider crackdown on financial networks allegedly supporting the Islamic State of Iraq and Syria (ISIS).
The sanctions, announced by the U.S. Department of the Treasury and the Department of State, target a network of individuals and businesses operating across Nigeria, France, Syria, and Türkiye.
According to American authorities, the measures are aimed at disrupting channels used to move money and resources to ISIS-linked operations around the world.
In a statement issued by U.S. Department of State spokesperson Thomas Pigott, officials described the sanctioned network as a major financial pipeline that enabled ISIS operatives and supporters to transfer funds across international borders.
“The actions target three individuals and six entities operating across Europe, the Middle East, and West Africa,” Pigott said.
The U.S. government alleged that the network included a France-based facilitator who supplied explosives-related information to ISIS supporters, a Syria-based operative who used cryptocurrency platforms to transfer funds, and a Nigeria-based facilitator who allegedly used currency exchange businesses to move money connected to ISIS activities.
Nigerian National and Firms Named in Sanctions List
Among the individuals listed by the U.S. authorities is Nigerian national Mukhtar Adamu Muhammad, who was identified alongside Abdelhakim Boukich and Abderrahmane Miloud.
The sanctions list also includes several companies accused of participating in financial transactions linked to terrorist financing operations.
The entities named are:
- Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi
- Bitcoin Exchange Agent Idlib’s No.1 Coin Exchange
- Generation Currency Bureau De Change Limited
- Manhattan Bureau De Change Limited
- Nine To Nine Exchange Bureau De Change Limited
- Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi
According to U.S. officials, these companies allegedly formed part of a network used to transfer funds through currency exchange services and digital asset channels.
The announcement places renewed attention on concerns surrounding illicit financial flows and the role of exchange businesses in facilitating cross-border transactions that may evade regulatory oversight.
US Tightens Measures Against Terror Financing Networks
American authorities stated that all designated individuals and entities will now face sanctions, including restrictions on access to the U.S. financial system and the freezing of assets under U.S. jurisdiction.
Officials said the latest action forms part of ongoing international efforts to identify, track, and dismantle financial networks used by terrorist organisations.
“The sanctions expose a sprawling financial network,” the U.S. Department of State said, adding that the targeted entities played various roles in facilitating financial support for ISIS-linked activities.
Also Read: Viral Video of Armed Bandits Passing Police Officers Sparks Debate Over Nigeria’s Security Challenges
Security analysts note that disrupting funding channels remains one of the most effective ways of weakening terrorist groups, as financial resources are often critical for recruitment, logistics, communications, and operational planning.
The latest sanctions signal Washington’s continued focus on counter-terrorism efforts and its commitment to working with international partners to curb the movement of funds linked to extremist organisations.
