The United States Government has imposed sanctions on a Lagos-based alleged financier of the Islamic State of Iraq and Syria (ISIS), Mukhtar Adamu Muhammad, and three bureaux de change linked to him over allegations of facilitating financial transactions for the terrorist group.
The sanctions were announced as part of a broader operation targeting ISIS financial networks operating across Europe, the Middle East and West Africa.
Muhammad, 35, who is also known as Adamu Mukhtar and Muhammad Mukhtar, was identified by the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) as an alleged facilitator of ISIS financing activities linked to the Islamic State West Africa Province (ISWAP).
According to the updated sanctions list released under Executive Order 13224, Muhammad, whose address was listed in Agege, Lagos State, allegedly served as a conduit for moving funds on behalf of ISIS through a network of bureaux de change operating in Lagos and Kano states.
The three financial institutions sanctioned alongside him are Generation Currency Bureau De Change Limited and Nine to Nine Exchange Bureau De Change Limited, both located in Lagos State, as well as Manhattan Bureau De Change Limited based in Kano State.
The US government alleged that the network formed part of a wider international structure used to raise, transfer and distribute funds for ISIS operations and affiliates across several regions.
According to the US Department of State, the broader network also involved a France-based facilitator accused of providing information on explosives to ISIS supporters, as well as a Syria-based operative who allegedly used cryptocurrency platforms to transfer funds to ISIS associates in different countries, including the United States.
Speaking on the latest sanctions, Department of State spokesperson Thomas “Tommy” Pigott said the action demonstrates Washington’s commitment to disrupting the financial infrastructure of terrorist organisations.
“Under the leadership of President Trump, the United States is dismantling ISIS’s ability to finance terrorism around the world.
“We are cutting off the financial lifelines that enable ISIS to fund attacks, support its regional affiliates, and threaten civilians, including religious minorities,” Pigott said.
He added that the sanctions reflect sustained pressure on ISIS as the group increasingly decentralises its operations and relies on financial intermediaries to maintain links across its global network.
“These actions reflect the United States’ unrelenting pressure on ISIS, which continues to decentralize its operations and rely on financial intermediaries to connect its global network,” he stated.
The United States also acknowledged Nigeria’s role in counter-terrorism operations, particularly the May 16, 2026 operation that reportedly resulted in the death of Abu-Bilal al-Minuki, identified as the second-highest ranking official within ISIS.
Washington reaffirmed its commitment to working closely with Nigeria and other international partners in combating terrorism and disrupting terror financing networks.
“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,” the Department stated.
The sanctions place all affected individuals and organisations on OFAC’s Specially Designated Nationals (SDN) list, resulting in the freezing of any assets under US jurisdiction and prohibiting American citizens and businesses from conducting transactions with them.
ISIS was first designated a Specially Designated Global Terrorist Organisation in 2004 and was subsequently listed as a Foreign Terrorist Organisation by the United States government in the same year.
