By Chike Ofili
The United States government has imposed sanctions on a Nigerian businessman and three Nigeria-based companies for allegedly facilitating financial transactions linked to the Islamic State of Iraq and Syria (ISIS), in a move aimed at disrupting the global terror group’s funding network.
The sanctions were announced by the U.S. Department of State as part of a broader crackdown targeting an international network of individuals and businesses accused of helping ISIS move funds across multiple jurisdictions spanning Europe, the Middle East, and West Africa.
According to a statement issued by State Department spokesperson Thomas Pigott, the latest action affects three individuals and six entities operating in France, Syria, Türkiye, and Nigeria, all of whom are alleged to have played various roles in supporting ISIS financial operations.
The U.S. government said the sanctions were designed to expose and dismantle financial channels used by the terrorist organisation to sustain its activities and maintain operational capabilities across different regions of the world.
“Today’s designations target three individuals and six entities operating across Europe, the Middle East, and West Africa who have enabled ISIS to move money across borders—exposing a network that spans from France and Syria to Türkiye and Nigeria,” Pigott said.
According to the statement, those sanctioned include a France-based facilitator accused of providing information on the use of explosives to ISIS supporters, a Syria-based operative alleged to have used cryptocurrency to transfer funds on behalf of ISIS associates in several countries, including the United States, and a Nigerian businessman whose currency exchange businesses allegedly served as channels for terror financing.
The Nigerian named in the sanctions list is Mukhtar Adamu Muhammad, also known as Mukhtar Adamu and Muhammad Mukhtar. U.S. authorities identified him as operating from Agege in Lagos State.
Also designated under the sanctions regime are three Nigerian companies allegedly linked to Muhammad and the wider ISIS financing network. They include Generation Currency Bureau De Change Limited, Lagos; Nine to Nine Exchange Bureau De Change Limited, Ikeja, Lagos; and Manhattan Bureau De Change Limited, Kano.
According to the U.S. Treasury Department’s Specially Designated Nationals (SDN) list, the firms allegedly functioned as financial conduits through which funds connected to ISIS activities were transferred or processed.
The sanctions also extend to foreign entities, including Alkaram Danismanlik Gayrimenkul Ic ve Dis Genel Ticaret Limited Sirketi and Spider Gayrimenkul ve Genel Ticaret Limited Sirketi, both based in Türkiye, as well as Bitcoin Exchange Agent Idlib’s No. 1 Coin Exchange in Syria.
U.S. authorities said the designations were imposed pursuant to Executive Order 13224, as amended, which empowers the American government to sanction terrorists and individuals or organisations accused of providing material, logistical, or financial support to terrorist groups.
Under the sanctions, all property and interests in property belonging to the designated individuals and entities within U.S. jurisdiction are blocked. The measures also generally prohibit American persons and institutions from engaging in transactions with those listed.
The State Department used the announcement to underscore ongoing counterterrorism cooperation between Washington and Abuja, particularly in efforts to combat ISIS and its affiliates operating in parts of Africa.
Pigott noted that Nigeria collaborated with the United States during a military operation conducted on 16 May 2026, which resulted in the death of Abu-Bilal al-Minuki, described by U.S. authorities as the second-highest-ranking official within the ISIS hierarchy.
Reaffirming Washington’s commitment to combating terrorism globally, the spokesperson said the United States would continue deploying diplomatic, intelligence, and legal instruments to target terrorist networks and those accused of supporting them financially.
“We will continue to use every diplomatic and legal tool available to hold ISIS and its supporters accountable—wherever they operate and however they move money. We remain fully committed to protecting American lives, defending religious minorities, and working with international partners to eliminate the threat that ISIS poses to global peace and security,” Pigott stated.
ISIS, formerly known as al-Qaeda in Iraq, was designated a Specially Designated Global Terrorist organisation by the United States in 2004. The latest sanctions are intended to isolate the designated individuals and companies from the international financial system while disrupting alleged channels used to finance terrorism and extremist activities worldwide.