Sequel to the action taken by the United States government in exposing three persons, including a Nigerian foreign exchange dealer linked to a terrorism group, the Central Bank of Nigeria (CBN) has followed with a directive to commercial banks to freeze accounts of six individuals and four Bureau de Change (BDC) operators designated for terrorism financing.

CBN in an order, Thursday, to banks, payment service platforms, and other financial institutions directed the immediate freezing of all accounts, assets, and transactions linked to six individuals and four BDC operators flagged for terrorism financing.

The directive was contained in a circular dated June 24, 2026 (Ref:CMD/FCS/PUB/CIR/002/011).

According to the regulatory bank, the latest update to the Nigeria Sanctions List, effective June 18, 2026, is binding on all regulated institutions and requires immediate implementation.

The CBN directed financial institutions to ‘identify and immediately freeze, without prior notice, all funds, assets, and other economic resources belonging to, owned, held, or controlled, directly or indirectly, by the designated persons and entities.’

This comes after the United States Department of the Treasury’s Office of Foreign Assets Control OFAC, announced the sanctions on a Nigerian, Mukhtar Adamu, and three bureau de change companies over their alleged involvement in financing the terrorist group Islamic State West Africa Province (ISWAP).

 

In a followup, the Nigerian government released the names of six persons and three entities sanctioned for terrorism financing.

The Federal Government list indicted Ibrahim Yakubu Ogirima, Adamu Ciroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed, Adamu Hammajam, Abbal Bako & Sons Bureau De Change Limited, Generation Currency BDC Limited, and Nine to Nine BDC Limited.

Oracle Intelligence recalls that the United States government had, earlier in the week, released the names of individuals and entities connected with ISIS financial networks, in furtherance of the Trump Administration’s fight against global terrorism financing.

The designations announced on Monday affect three men and six businesses “who have enabled ISIS to move money across borders.” They operate in Europe, the Middle East, and West Africa.

Washington says by crippling the web, which spans from France and Syria to Türkiye and Nigeria, the U.S. is cutting off funds that enable ISIS to execute attacks, support its regional affiliates, and threaten civilians, including religious minorities.

The targets include a Nigerian whose money exchange firms served as conduits for ISIS financing, a French man who provided information on explosives to ISIS supporters, and a Syrian who used crypto to transfer funds on behalf of ISIS allies.

The American government reaffirmed its strong partnership with Nigeria, which joined the U.S. in the May 16, 2026, operation that resulted in the killing of Abu-Bilal al-Minuki, the number two official in ISIS.

The United States’ unrelenting pressure on ISIS, according to the State Department, continues to decentralize its operations and rely on financial intermediaries to connect its global network.

“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,” the statement reads.

The Department of Treasury’s Office of Foreign Assets Control has published the details of companies and three nationals now regarded as Specially Designated Global Terrorists (SDGT).

The Nigerian is Muhammad Mukhtar Adamu, linked to ISIS-West Africa. Born 02 (alt 03) August 1990, Muhammad’s home address shows he resides in the Agege area of Lagos.

The Syrian is Abdelhakim Boukich a.k.a. Babili Muhammad, DOB 15 Dec 1993; alt. DOB 01 Jan 1991. The French is Abderrahmane Miloud a.k.a. Ghazi Ibrahim, DOB August 1992. Both are linked to the Islamic State of Iraq and the Levant.

The three companies linked to Muhammad, based in Nigeria, include; General Currency Bureau De Change Limited, located in Lagos and established on January 9, 2019, with Registration Number RC 1555604.

Others: Manhattan Bureau De Change, Murtala Mohammad Way, Kano, est. 26 January 2021, Reg. No. RC 1763824; Nine To Nine Exchange Bureau De Change, FAAN Complex, Airport Road, Lagos, est. 22 August 2017, Reg. No. RC 1462752.