US Designates Nigerian Mukhtar Muhammad, Three BDCs, Others, ISIS Financiers – THISAGE

By Ayo Kehinde

The US government has stepped up its global crackdown on terrorism financing, designating a Nigerian citizen 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 Monday by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), target three individuals and six entities operating in Europe, the Middle East and West Africa, which U.S. authorities say played a key role in moving funds to ISIS and its affiliates.

In a statement, US State Department spokesman Thomas “Tommy” Pigott said the sanctions highlight a transnational network stretching from France and Syria to Turkey and Nigeria.

“Under President Trump’s leadership, the United States is dismantling ISIS’s ability to finance terrorism around the world. We are cutting off financial lifelines around the world that allow ISIS to finance attacks, support its regional affiliates, and threaten civilians, including religious minorities,” Pigott said.

According to the State Department, designated individuals and entities enabled ISIS to move money across borders through a network of facilitators and money services companies operating in multiple jurisdictions.

At the center of the Nigerian component of the sanctions is Mukhtar Adamu Muhammad, who US authorities have identified as a financial facilitator for the Islamic State West Africa Province (ISWAP), also known as ISIS-West Africa.

The Treasury Department said Muhammad made money transfers on behalf of the terrorist organization and used various financial assets as conduits to move funds linked to ISIS activities.

Three Nigerian-based financial services companies 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 in West Africa.

“As demonstrated by the killing of al-Minuki on May 16, 2026, the United States and Nigeria stand together in relentless pursuit and elimination of ISIS. This includes cooperation in countering terrorist financing and protecting the rights of religious minorities,” the Treasury Department said.

The reference was to Abu-Bilal al-Minuki, described by US authorities as the second-ranking leader of ISIS, who was reportedly killed during a joint counter-terrorism operation involving the US and Nigeria in May.

In addition to Nigeria, the sanctions also targeted Miloud Abderrahmane, a France-based facilitator accused of conducting transactions with known ISIS affiliates in Syria and providing information related to the manufacture and use of explosives.

Another targeted individual was Abdelhakim Boukich, a former Dutch citizen who controls Bitcoin Xchange, a Syria-based money services company 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 was previously designated by OFAC in 2016 for facilitating logistical and financial support to ISIS. Authorities said Alhmidan owns and controls Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi, a financial services company based in Turkey, as well as Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi, which allegedly operates on behalf of Spider.

According to US officials, financial facilitators have become increasingly important to ISIS as continued 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,” said US Treasury Secretary Scott Bessent.

The Treasury Department noted that financial intermediaries provide critical links between ISIS affiliates and the group’s General Directorate of Provinces, which oversees financing and operational support for regional branches.

As a result of the sanctions, all assets and interests in property belonging to designated persons and entities located in the United States or under the control of U.S. citizens have been frozen and must be reported to OFAC.

American citizens and businesses are generally prohibited from transacting with sanctioned individuals or organizations unless authorized by the U.S. government.

The Treasury Department also warned that foreign financial institutions that knowingly facilitate significant transactions on behalf of sanctioned individuals may be subject to secondary sanctions, including restrictions on maintaining correspondent banking relationships in the United States.

The action is part of a broader effort by Washington to dismantle the terrorist group’s financial infrastructure and disrupt networks that allow it to finance attacks, recruit fighters and support operations in multiple regions.