The Federal Government has reacted after the United States sanctioned a Nigerian businessman and associated Bureau De Change operators over alleged links to terrorism financing.
The Federal Government has welcomed the decision of the United States to sanction Nigerian businessman Mukhtar Adamu Muhammad and several Bureau De Change operators over allegations of terrorism financing.
The sanctions were announced by the United States Department of the Treasury through its Office of Foreign Assets Control (OFAC), which designated Mukhtar Adamu Muhammad as an alleged financial facilitator for ISIS-West Africa.
The U.S. authorities also sanctioned three Nigeria-based Bureau De Change firms identified as Nine to Nine Exchange Bureau De Change Limited, Manhattan Bureau De Change Limited, and Generation Currency Bureau De Change Limited, alleging that they were linked to Muhammad’s financial operations.
The sanctions form part of a broader effort by U.S. authorities to disrupt financial networks allegedly connected to ISIS operations across multiple regions, including West Africa.
The development follows earlier actions by Nigerian authorities targeting individuals and entities suspected of terrorism financing through sanctions mechanisms coordinated by relevant national security institutions.
According to OFAC, Muhammad allegedly conducted financial transactions on behalf of ISIS-West Africa, while the affected BDC operators were identified as entities allegedly owned, controlled, or directed by him.
The sanctions remain in effect as authorities continue efforts aimed at disrupting financial channels allegedly connected to terrorist activities.