US Naming Of Nigerian, 3 BDCs As ISIS Financiers Raises Concern

By Innocent Odoh and Tarkaa David, Abuja

Nigerian security experts and those versed in international relations have expressed concerns over the United States’ designation of a Nigerian national and other individuals and entities as alleged financiers of the Islamic State’s (ISIS) operations around the world.

This was disclosed in a statement issued on Tuesday by a spokesman for the United States Department of State, Thomas Pigott, who stressed that the Nigerian, other nationals and entities funding activities linked to the terrorist organisation cut across Europe, the Middle East and West Africa.

“Under the leadership of President Trump, the United States is dismantling ISIS’ 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,” the statement said.

One of the suspects from Nigeria was identified as Mukhtar Adamu (a.k.a. Adamu, Mukhtar; Mukhtar, Muhammad) of No. 45 Abimbola Street, off Capital Road, Morcas, Agege, Lagos State, Nigeria.

His date of birth was given as 2 August 1990 (alt. 3 August 1990), with passport Nos. A11904741 and A07422697 (SDGT). He is allegedly linked to ISIS-West Africa Province (ISWAP).

Adamu is also the operator of Generation Currency Bureau De Change Limited, Lagos, Nigeria (RC 1555604).

He also operates Manhattan Bureau De Change Limited, No. 59 Murtala Mohammed Way, Wapa, Kano, Nigeria (RC 1763824).

The terror suspect also operates Nine-To-Nine Exchange Bureau De Change Limited, Ikeja, Lagos State, Nigeria (RC 1462752).

According to the statement, the designations cut across France, Syria, Türkiye and Nigeria, describing the network as one that enables ISIS to move money across borders.

“Today’s designations target three individuals and six entities operating across Europe, the Middle East and West Africa who have enabled ISIS to move money across borders – exposing a network that spans from France and Syria to Türkiye and Nigeria.

“Among those designated is a France-based facilitator who provided information concerning the use of explosives to ISIS supporters, a Syria-based operator who used cryptocurrency to transfer funds on behalf of ISIS associates in multiple countries, including the United States, and a Nigeria-based facilitator whose money exchange businesses served as conduits for ISIS financing,” the statement added.

Reacting to this disclosure, public intellectual Dr Katch Ononuju said the ISIS global terrorist network, with its jihadist agenda, had its franchise in Nigeria and was using its local agents in the country to facilitate the movement of funds for terrorists.

He expressed concern about the danger this poses to the country, especially as the terrorists are alleged to have infiltrated Nigeria’s security architecture, including its financial ecosystem.

In his contribution, retired diplomat and security expert Prof Uche Mbanaso said: “This is too bad for Nigeria, adding to its already fragile reputation. Although it is common knowledge that some individuals are funding terrorism in Nigeria and beyond, I think what is important is to find out the motivation and decisively deal with the individuals identified because the sponsors are the lifeblood of terrorism.”

International constitutional law expert Livingstone Wechie decried the situation, stressing that it exposes the leadership challenges that have characterised the management of terrorism in Nigeria and the failure to nip it in the bud.

He said, “Nigeria ranks as the fourth most terrorism-impacted country globally, according to the Global Terrorism Index 2026. The country recorded a significant upsurge in extremist violence, with fatalities rising by 46 per cent to 750 deaths.”

Speaking with LEADERSHIP on the matter, the Managing Director of Beacon Security and Intelligence Limited, Kabir Adamu, said the identified Nigerian would face consequences as an individual and that the nation should not bear the blame.

He explained that the individual involved and his three firms had been identified by US authorities, even though the statement did not specify the particular activities involved.

A former Director of the Department of State Services, Barr. Mike Ejiofor, commended the identification of terror financiers and called on the Nigerian government to fully cooperate in their prosecution to retain global trust in the fight against terrorism.

“The individual and firms should be prosecuted to a logical conclusion, and if they are outside the country, they should be brought back to face justice. It is a step in the right direction.

“This identification has made our job a little easier because, through ongoing collaboration with the US, we have to prosecute them if we are to regain the trust and confidence of our partners.

“The Nigerian government must cooperate to continue with our international collaborations in the fight against terrorism,” he said.

For security analyst Mohammed Abdullahi Jabi, a member of the International Institute of Professional Security (IIPS), the identification of such persons is a welcome development, coming at a time when US-Nigeria collaboration is yielding positive results with the elimination of high-profile terrorists.

A former Army spokesperson, Brig.-Gen. Sani Usman (rtd.), commended the United States for taking decisive action against individuals and entities involved in financing ISIS activities.

He described terrorism financing as a global threat and said efforts aimed at disrupting the flow of funds to terrorist networks would help enhance international security and protect innocent lives.

He, however, noted that beyond designating and sanctioning the suspects, it would have been even more effective for the US authorities to work closely with the governments of the countries concerned, particularly Nigeria and other affected nations, to facilitate thorough investigations, arrests and prosecutions where sufficient evidence exists.

“Such collaboration would not only strengthen the fight against terrorism but also ensure due process and accountability under the law.

“Combating terrorism requires strong international cooperation, intelligence sharing and coordinated law enforcement actions.

“Sanctions are important, but bringing alleged financiers before the courts could send an even stronger message that terrorism and its funding will not be tolerated anywhere in the world,” he said.

LEADERSHIP reports that in recent months, the United States has set its gaze on Nigeria. The US designated Nigeria as a Country of Particular Concern (CPC) following what it considered genocidal killings targeted at Nigerian Christians by mostly jihadist groups and vowed to stop them.

On 25 December 2025, United States President Donald Trump announced that US forces had bombed a terrorist base in Sokoto State in collaboration with the Nigerian government, killing scores of terrorists.

The United States and Nigerian armed forces conducted a joint operation on 16 May 2026 that killed Abu-Bilal al-Minuki, the alleged second-in-command of ISIS globally. The arch-terrorist was eliminated alongside several of his lieutenants in a targeted strike on his compound in the Lake Chad Basin.

Experts believe that the intensification of the war on all fronts, especially efforts to cripple terrorist financing, will go a long way towards tackling this protracted scourge amid growing apprehension about the threats posed by terrorism to the country, whose citizens have been battered by incessant kidnappings linked to terror attacks.

Full List of Specially Designated Nationals (SDN)

ABDELHAKIM, Boukich (a.k.a. “ALHOLANDI, Abu Sulayman”; “BABILI, Muhammad”); Syria; DOB 15 Dec 1993 (alt. 01 Jan 1991); Place of Birth: The Hague, Netherlands (alt. Aleppo, Syria); nationality: Netherlands; male; National ID No. 02040063438 (Syria) [SDGT] (Linked to: ISIS).

ABDERRAHMANE, Miloud (a.k.a. “GHAZI, Ibrahim”); France; DOB Aug 1992; nationality/citizenship: France; male; Digital Currency Addresses: TRX TBXMiRqUp1XH1zLazWu8cWitMAScv4HsYq; TRX TDFj8tYzfLDkwEMo4MJ2DfrbpMztuCCnan [SDGT] (Linked to: ISIS).

MUHAMMAD, Mukhtar Adamu (a.k.a. ADAMU, Mukhtar; MUKHTAR, Muhammad); No. 45 Abimbola Street, off Capital Road, Morcas, Agege, Lagos State, Nigeria; DOB 02 Aug 1990 (alt. 03 Aug 1990); nationality: Nigeria; male; Passport Nos. A11904741; A07422697 [SDGT] (Linked to: ISIS-West Africa).

Entities Added to SDN List

Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi (a.k.a. Al-Karam Company; Al-Karam Money Transfer Company; Spider Company Istanbul Exchange Rates); Fatih, Istanbul, Türkiye; [SDGT] (Linked to: ISIS).

Bitcoin Exchange Agent Idlib’s No. 1 Coin Exchange (a.k.a. Idlib No. 1 BTC; No. 1 Bitcoin Exchange Agent; Bitcoin Xchange); Idlib, Salqin, Darkush, Sarmada, Syria; [SDGT] (Linked to: ISIS).

Generation Currency Bureau De Change Limited; Lagos, Nigeria; RC 1555604; [SDGT] (Linked to: Mukhtar Adamu/ISIS network).

Manhattan Bureau De Change Limited; No. 59 Murtala Mohammed Way, Wapa, Kano, Nigeria; RC 1763824; [SDGT] (Linked to: Mukhtar Adamu/ISIS network).

Nine To Nine Exchange Bureau De Change Limited; Ikeja, Lagos State, Nigeria; RC 1462752; [SDGT] (Linked to: Mukhtar Adamu/ISIS network).

Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi (a.k.a. Spider Money Transfer Company; Spider Ticaret); Istanbul, Türkiye; [SDGT] (Linked to: ISIS).