23.6.2026
Three bureaux de change operating in Lagos have been fingered in the financing of terror organisations by the President Donald Trump’s administration.
According to the US authorities Nigeria-based Mukhtar Adamu and the three bureaux de change he runs allegedly have links to the Islamic State of Iraq and Syria (ISIS).
The BDCs, allegedly owned or controlled by Mr Adamu, are Generation Currency Bureau De Change Limited in Lagos; Manhattan Bureau De Change Limited in Kano; and Nine to Nine Exchange Bureau De Change Limited in Lagos.
Mr Adamu, born on August 2, 1990, and residing in the Agege area of Lagos, was designated “for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods and services to or in support of, ISIS-WA”.
“Nine Exchange, Manhattan Bureau, and Generation Currency are being designated pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, or having acted or purported to act on behalf of, directly or indirectly, Mukhtar Adamu Muhammad,” the government said.
Department of State spokesperson Thomas Pigott said in a statement that three other individuals, as well as three separate entities in Europe and the Middle East, facilitated the transfer of money across countries to fund ISIS attacks.
Mr Pigott said their operations extended across France and Syria to Türkiye and Nigeria.
“We are cutting off the financial lifelines from around the world that enable ISIS to fund attacks, support its regional affiliates, and threaten civilians, including religious minorities,” he said.
Mr Pigott added, “These actions reflect the United States’ unrelenting pressure on ISIS, which continues to decentralise its operations and rely on financial intermediaries to connect its global network.”
Also blacklisted as ISIS financial facilitators by the U.S. government are France-based Miloud Abderrahmane, aka Abderrahmane, who aided the terrorist group with information on the use of explosives; and Abdelhakim Boukich, who operates a Syria-based money service business and transfers funds for ISIS supporters through cryptocurrencies to Norway, Belgium, the Netherlands, South Africa, and the U.S.
It warned that financial institutions and individuals who engage in transactions with the designated individuals and entities risk being exposed to secondary sanctions.
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