Nigerian Mukhtar Muhammad, three Lagos firms hit in U.S. ISIS funding sweep

By Kazeem Ugbodaga

The United States, U.S., has imposed sanctions on a network of individuals and businesses linked to the financing of the Islamic State (ISIS), including a Nigerian national and three Nigeria-based financial firms, in a move Washington says is aimed at crippling the terrorist group’s global funding operations.

Announcing the measures on Monday, the U.S. government said the sanctions target three individuals and six entities operating across Europe, the Middle East and West Africa that allegedly facilitated the movement of funds for ISIS and its affiliates.

Among those designated is Nigerian citizen Mukhtar Adamu Muhammad, who was accused of serving as a financial facilitator for ISIS-West Africa.

U.S. authorities alleged that businesses linked to him were used as conduits for moving funds on behalf of the terrorist organisation.

The sanctions also cover three Nigerian companies-Generation Currency Bureau de Change Limited, Manhattan Bureau de Change Limited and Nine to Nine Exchange Bureau de Change Limited, which U.S. authorities linked to Muhammad’s financial activities.

The latest action forms part of a broader campaign by the administration of President Donald Trump to disrupt ISIS financial networks and cut off funding sources used to support attacks, sustain regional affiliates and recruit operatives.

According to the U.S. State Department, the network being targeted stretches across several countries, including France, Syria, Türkiye and Nigeria.

The sanctions also named a France-based ISIS facilitator accused of providing information on the use of explosives to ISIS supporters, as well as a Syria-based operative alleged to have used cryptocurrency channels to transfer funds on behalf of ISIS associates in multiple countries, including the United States.

In a statement, U.S. State Department spokesperson Thomas “Tommy” Pigott said Washington remained committed to dismantling ISIS financing structures wherever they operate.

“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 that enable ISIS to fund attacks, support its regional affiliates and threaten civilians,” he said.

The U.S. also used the announcement to reaffirm its security partnership with Nigeria, highlighting Abuja’s participation in a joint operation that led to the killing of Abu-Bilal al-Minuki, identified as the second-highest-ranking official in ISIS.

According to Washington, Nigeria joined the United States in the May 16, 2026 operation that eliminated the senior ISIS leader, a development described as a major blow to the terrorist organisation.

“The United States reaffirms its strong partnership with Nigeria, which joined the United States in the operation that resulted in the killing of Abu-Bilal al-Minuki, the number two official in ISIS,” the statement said.

The sanctions were imposed under Executive Order 13224, a U.S. counterterrorism authority that enables the designation of individuals and entities accused of supporting terrorist organisations.

The U.S. Treasury Department said the action would freeze any assets of the designated persons and entities under U.S. jurisdiction and generally prohibit transactions involving them.

Washington maintained that ISIS continues to adapt its operations through decentralised networks and financial intermediaries, making international cooperation critical to disrupting the group’s activities.