US Releases Actual Locations of Bureau De Change in Nigeria Used in Financing Terrorism
- The United States released a fresh list of bureaux de change in Nigeria and other entities accused of financing ISIS in 2026
- OFAC named individuals and companies across Nigeria, Syria, and Turkey, linking them to terrorist funding networks
- These sanctions block assets and restrict transactions, intensifying Washington’s crackdown on global terrorism financing
On June 22, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) published a new list of individuals and entities accused of financing terrorism.
The announcement highlights bureaux de change in Nigeria and other financial service businesses in Syria and Turkey linked to ISIS operations.
Source: Getty Images
Individuals designated under sanctions
Three individuals were named in the latest sanctions:
- Mukhtar Adamu Muhammad, a Nigerian national born August 2, 1990, residing at No. 45, Abimbola Street, Agege, Lagos State. He is linked to ISIS-West Africa and controls several bureaux de change in Nigeria.
- Abdelhakim Boukich, also known as Abu Sulayman, born December 15, 1993, in The Hague, Netherlands. He is linked to ISIS and controls Bitcoin Xchange in Syria.
- Miloud Abderrahmane, a French national born August 1992, accused of conducting digital currency transactions for ISIS affiliates.
Entities linked to ISIS financing
OFAC also designated several companies accused of supporting ISIS operations:
- Generation Currency Bureau de Change Limited, Lagos, Nigeria, registered in January 2019.
- Manhattan Bureau de Change Limited, located at No. 59 Murtala Mohammad Way, Wapa, Kano, Nigeria, registered in January 2021.
- Nine to Nine Exchange Bureau de Change Limited, Block 7, Faan Complex, Airport Road, Ikeja, Lagos State, Nigeria, registered in August 2017.
- Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi, Istanbul, Turkey, operating under several aliases including Spider Money Transfer Company.
- Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi, based in Istanbul, Turkey, operating under multiple names including Al-Karam Financial Transfers.
- Bitcoin Exchange Agent Idlib’s No.1 Coin Exchange, with branches in Idlib, Salqin, Darkush, and Sarmada, Syria.
Sanctions implications for Nigeria
The designations mean that all property and interests of these individuals and entities within U.S. jurisdiction are blocked. U.S. persons are prohibited from engaging in transactions with them, and violations may lead to civil or criminal penalties.
Foreign financial institutions that knowingly facilitate transactions for these sanctioned entities may also face secondary sanctions, including restrictions on correspondent accounts in the United States.
FG lists 48 Nigerians financing terrorism in 2026
Legit.ng earlier reported that the federal government has published an updated list of Nigerians designated as terrorism financiers in 2026. This move is part of ongoing efforts to combat terrorism financing and strengthen national security.
Nigeria, being a member of the United Nations and in pursuit of its commitment to international peace and security as enunciated under the Charter of the United Nations, has enacted the Terrorism (Prevention and Prohibition) Act, 2022 which established the Nigeria Sanctions Committee as the national body responsible for the implementation of the United Nations Security Council Resolutions (UNSCRs) on Targeted Financial Sanctions.
Targeted Financial Sanctions (TFS) issued by the United Nations Security Council are designed to deny any individuals or entities associated with terrorism, terrorism financing and financing of the proliferation of weapons of mass destruction (WMD) access to assets, funds, equipment or support.
Source: Legit.ng
