By Jane Okeke
The Nigeria Sanctions Committee has welcomed the recent designation of Mukthar Muhammad Adamu, Nine to Nine BDC and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC), describing the move as a significant step in ongoing efforts to disrupt terrorism financing networks.
In a statement, the committee noted that the US action followed Nigeria’s inclusion of the same individuals and entities in the updated Nigeria Sanctions List published on June 18, 2026.
The committee explained that the listing was based on extensive intelligence gathering, financial investigations and inter-agency assessments which established reasonable grounds to believe that the affected individuals and organisations facilitated, financed, supported or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and affiliated terrorist groups.
The individuals designated by Nigeria are Ibrahim Yakubu Ogirima, Muktar Muhammad Adamu, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman and Babangida Muhammed Adamu Hammajam. The entities are Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited and Nine to Nine BDC Limited.
The Federal Government reiterated its directive to financial institutions and designated non-financial businesses and professions to comply fully with sanctions obligations, including asset-freezing measures, filing of Suspicious Transaction Reports and reporting of relevant matches to competent authorities.
According to the committee, the coordinated efforts 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 Nigerian Financial Intelligence Unit were instrumental in identifying and sanctioning the individuals and entities involved.
The committee reaffirmed Nigeria’s commitment to safeguarding the integrity of its financial system and ensuring that terrorist organisations and their financiers are denied access to resources that sustain their activities.
It added that the government would continue to strengthen collaboration with domestic stakeholders and international partners in advancing national security objectives and combating terrorism financing.
Nigeria Hails US Designation of Terror Financing Suspects, Firms
