U.S. Blacklists Nigerian Bureaux de Change for ISIS Ties

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has blacklisted three Nigerian bureaux de change due to their alleged involvement in financing the Islamic State West Africa Province (ISWAP).

Mukhtar Adamu Muhammad is identified as the owner of these bureaux, which are accused of facilitating money transfers for extremist organizations. This sanction targets nine exchange bureaus and is part of a larger operation aimed at dismantling terrorist financing networks across West Africa, Europe, and the Middle East.

The sanctions also affect properties owned by designated individuals and entities within U.S. jurisdiction, blocking American citizens and companies from engaging in transactions with them. The U.S. has intensified efforts to combat the complex terrorist threat in Nigeria, particularly following the emergence of ISWAP from Boko Haram in 2016.

The United Nations estimates that the insurgency has resulted in approximately 35,000 deaths and millions displaced, highlighting the urgent need for effective counterterrorism measures.