The United States Government has intensified its global crackdown on terrorism
financing, designating a Nigerian national and freezing the assets of three
Nigerian Bureau De Change (BDC) companies accused of facilitating financial
transactions for the Islamic State of Iraq and Syria (ISIS).
The sanctions, announced on Monday by the U.S. Department of the Treasury’s
Office of Foreign Assets Control (OFAC), target three individuals and six
entities operating across Europe, the Middle East and West Africa, whom U.S.
authorities allege played key roles in moving funds for ISIS and its affiliates.
In a statement, U.S. Department of State spokesperson, Thomas “Tommy”
Pigott, said the sanctions expose a transnational network stretching from France
and Syria to Türkiye and Nigeria.
“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 from around the world that enable ISIS to fund attacks,
support its regional affiliates, and threaten civilians, including religious
minorities”, Pigott stated.
According to the State Department, the designated individuals and entities
enabled ISIS to move money across borders through a network of facilitators
and money service businesses operating in different jurisdictions.
At the center of the Nigerian component of the sanctions is Mukhtar Adamu
Muhammad, whom U.S. authorities identified as a financial facilitator for the
Islamic State West Africa Province (ISWAP), also known as ISIS-West Africa.
The Treasury Department alleged that Muhammad conducted money transfers
on behalf of the terrorist organization and used several financial businesses as
conduits for moving funds linked to ISIS activities.
Three Nigeria-based money service businesses allegedly owned, controlled or
directed by Muhammad were also sanctioned. They are Nine to Nine Exchange
Bureau De Change Limited, Manhattan Bureau De Change Limited, and
Generation Currency Bureau De Change Limited.
The Treasury Department said Muhammad was designated pursuant to
Executive Order 13224, as amended, for allegedly providing financial, material
or technological support to ISIS-West Africa.
“As demonstrated by the May 16, 2026, killing of al-Minuki, the United States
and Nigeria stand together in relentlessly pursuing and eliminating ISIS. This
includes cooperation in countering the financing of terrorism and protecting the
rights of religious minorities”, the Treasury Department stated.
The reference was to Abu-Bilal al-Minuki, described by U.S. authorities as the
second-ranking ISIS leader, who was reportedly killed during a joint
counter terrorism operation involving the United States and Nigeria in May.
Beyond Nigeria, the sanctions also targeted Miloud Abderrahmane, a France-
based facilitator accused of conducting transactions with known ISIS affiliates
in Syria and providing information relating to the manufacture and use of
explosives.
Another individual designated was Abdelhakim Boukich, a former Dutch
national who controls Bitcoin Xchange, a Syria-based money service business
allegedly used to transfer funds on behalf of ISIS associates in countries
including the United States, Belgium, Norway, South Africa and the
Netherlands.
The Treasury Department also sanctioned Mohamad Alhmidan, who had
previously been designated by OFAC in 2016 for facilitating logistical and
financial support for ISIS. Authorities said Alhmidan owns and controls Spider
Gayrimenkul Ve Genel Ticaret Limited Sirketi, a Türkiye-based money service
business, as well as Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret
Limited Sirketi, which allegedly operates on Spider’s behalf.
According to U.S. officials, financial facilitators have become increasingly
important to ISIS as sustained military pressure has forced the group to
decentralize its operations and rely on regional affiliates and autonomous cells
around the world.
“ISIS continues to seek new methods and tools to finance terrorist attacks. The
United States will leverage every tool at its disposal to crush ISIS’s remaining
capabilities and protect American lives”, U.S. Treasury Secretary Scott Bessent
said.
The Treasury Department noted that financial intermediaries provide critical
links between ISIS affiliates and the group’s General Directorate of Provinces,
which oversees funding and operational support for regional branches.
As a result of the sanctions, all property and interests in property belonging to
the designated persons and entities that are located in the United States or under
the control of U.S. persons have been blocked and must be reported to OFAC.
American citizens and businesses are generally prohibited from conducting
transactions with sanctioned individuals or organizations unless authorized by
the U.S. government.
The Treasury Department further warned that foreign financial institutions that
knowingly facilitate significant transactions on behalf of sanctioned persons
could face secondary sanctions, including restrictions on maintaining
correspondent banking relationships within the United States.
The action forms part of a broader effort by Washington to dismantle the
terrorist group’s financial infrastructure and disrupt the networks that enable it
to fund attacks, recruit fighters and sustain operations across multiple regions.