The Federal Government has directed financial institutions and designated non-financial businesses and professions to fully comply with sanctions obligations by freezing the assets of individuals and entities linked to terrorism financing.

The directive follows recent sanctions imposed by the United States government on an alleged Nigerian financier of the Islamic State (ISIS), Mukhtar Adamu Muhammad, and three Bureau De Change (BDC) operators based in Lagos and Kano.

The U.S. government, acting under Executive Order 13224, sanctioned Muhammad, 35, along with Generation Currency Bureau De Change Limited, Nine to Nine Exchange Bureau De Change Limited, and Manhattan Bureau De Change Limited for allegedly facilitating financial transactions for ISIS. The move formed part of a broader crackdown on the terrorist group's financial networks across Europe, the Middle East, and West Africa.

In addition to the individuals and entities sanctioned by the U.S., the Nigerian government had earlier, on June 18, 2026, added six individuals and one company to its sanctions list. Those listed include Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed, Adamu Hammajam, and Abbal Bako & Sons Bureau De Change Limited.

Reacting to the U.S. action, the Nigerian Sanctions Committee reiterated its directive to all financial institutions and designated non-financial businesses to strictly adhere to sanctions requirements, including freezing assets, filing Suspicious Transaction Reports, and reporting relevant matches to appropriate authorities.

The committee stated that terrorists and their financiers would find no safe haven within Nigeria's financial system, noting that the U.S. sanctions reinforce measures already taken by Nigerian authorities and demonstrate a coordinated international effort to disrupt terrorist financing networks.

It welcomed the decision of the U.S. Office of Foreign Assets Control (OFAC) to designate Mukhtar Adamu Muhammad, Nine to Nine BDC Limited, and Generation Currency BDC Limited, noting that the entities had already been included in Nigeria's sanctions list published on June 18.

According to the committee, the sanctions followed extensive intelligence gathering, financial investigations, and inter-agency assessments which established reasonable grounds to believe that the affected individuals and entities had facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.

The committee also commended the Federal Ministry of Justice, the Office of the National Security Adviser, the Central Bank of Nigeria, the Department of State Services, the Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their roles in identifying and disrupting terrorist financing activities.

Reaffirming Nigeria's commitment to combating terrorism financing, the committee said the government would continue collaborating with domestic stakeholders and international partners to strengthen financial integrity, enhance national security, and contribute to global counter-terrorism efforts.

Military Has Crippled ISIS, Boko Haram Networks – DIA

Meanwhile, the Chief of Defence Intelligence (CDI), Lt. Gen. Emmanuel Undiandeye, said the Nigerian military, working closely with allied forces from the United States, United Kingdom, and France, has significantly weakened terrorist groups operating in the country.

Speaking during the Second Quarter Operations Briefing for Foreign Defence Advisers and Attachés at the Defence Intelligence Agency headquarters, Undiandeye said Nigerian forces had successfully targeted and eliminated several ISIS and Boko Haram commanders, fighters, and support networks.

"Our forces have assaulted, decimated and decapitated them to the extent that their logistics chains, arms and ammunition couriers, and support networks have been dismantled," he said.

The intelligence chief maintained that security challenges across the country had largely been contained through improved operational capabilities, intelligence gathering, and advanced technology deployed in collaboration with international partners.

He explained that the quarterly briefing was organised to provide foreign defence advisers and attachés with an accurate assessment of Nigeria's security situation and to showcase the growing cooperation among the country's security and intelligence agencies.

Also speaking, the Director of Foreign Liaison, Major General Ojogbane Adegbe, said the briefing serves as a platform for engaging foreign defence representatives on security developments in Nigeria and the wider Sahel region.

According to him, the forum also strengthens collaboration between the Defence Intelligence Agency, sister security agencies, and other stakeholders committed to safeguarding lives and property across the country.