EFCC to Arraign BDC Operator for Alleged ISIS Funding

The Economic and Financial Crimes Commission (EFCC) is preparing to arraign Mukhtar Adamu Muhammad, a Lagos-based Bureau de Change operator, due to alleged connections with financing the Islamic State (ISIS). Sources indicate that the EFCC has advanced its investigation following recent sanctions imposed by the U.S. government, which blacklisted Muhammad and three Nigerian firms for suspected financial transactions linked to terrorist activities.

The U.S. Department of State accused Muhammad of facilitating fund movements associated with ISIS's West African network.

The EFCC's investigation focuses heavily on financial transactions believed to be linked to terror financing. Although the commission has not released an official public statement, prosecution is expected soon.

The U.S. sanctions followed Nigeria's earlier decision to place affected individuals and entities on its national sanctions list, based on intelligence reports from financial investigations. The EFCC, alongside other major government institutions, is committed to cutting off financial support to terrorist groups and strengthening Nigeria's financial system.