By Eshioromeh Sebastian
The United States has designated three Nigerian Bureau De Change operators and six other entities as financiers of the Islamic State (ISIS), in furtherance of the Trump Administration’s global campaign against terrorism financing.
The designations, announced on Monday by the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC), target three individuals and six businesses operating across Europe, the Middle East, and West Africa who have enabled ISIS to move money across borders.
Washington says dismantling this web, which spans from France and Syria to Türkiye and Nigeria, is critical to cutting off funds that enable ISIS to execute attacks, support its regional affiliates, and threaten civilians, including religious minorities.
Among those designated is Muhammad Mukhtar Adamu, a Nigerian national linked to ISIS-West Africa (ISIS-WA). According to OFAC, Adamu is a financial facilitator who conducted money transfers on behalf of the terrorist group.
The U.S. Treasury stated that these money service businesses served as conduits for ISIS financing, with the three BDCs now listed as Specially Designated Global Terrorists (SDGTs).
The sanctions also hit two other individuals: Abderrahmane Miloud (also known as Ghazi Ibrahim), a French national born August 1992, accused of conducting transactions with known ISIS affiliates and providing instructional and manufacturing information on explosives to ISIS supporters; and Abdelhakim Boukich (also known as Babili Muhammad), formerly a Dutch national based in Syria, born 15 December 1993 (alternative date: 1 January 1991), who controls and directs Bitcoin Xchange — a Syria-based money service business established in late 2020. Boukich and Bitcoin Xchange have transferred money on behalf of ISIS associates originating from multiple countries, including Norway, Belgium, the Netherlands, South Africa, and the United States.
The other entities designated include Bitcoin Xchange (Syria), Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi (Türkiye), and Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi (Türkiye) — all accused of operating as fronts for ISIS financial activities.
The action follows the May 16, 2026, coordinated operation between the United States and Nigeria that resulted in the killing of Abu-Bilal al-Minuki, the number two official in ISIS.
The U.S. State Department reaffirmed its strong partnership with Nigeria, with a spokesperson stating: “As demonstrated by the May 16, 2026 killing of al-Minuki, the United States and Nigeria stand together in relentlessly pursuing and eliminating ISIS”.
U.S. State Department Spokesperson Thomas “Tommy” Pigott said: “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 from around the world that enable ISIS to fund attacks, support its regional affiliates, and threaten civilians, including religious minorities”.
Treasury Secretary Scott Bessent added: “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”.
The U.S. designation comes just over two months after Nigeria’s Federal Government released its own comprehensive list of terrorism financiers. On April 11, 2026, the Nigeria Sanctions Committee (NIGSAC), operating under the Terrorism (Prevention and Prohibition) Act, 2022, published a list of 48 individuals and 12 entities identified as sponsors or facilitators of terrorism in the country.
Among those named were Simon Ekpa — the Finland-based factional leader of the Indigenous People of Biafra (IPOB), convicted in September 2025 by the Päijät-Häme District Court in Finland of terrorism-related charges; Tukur Mamu — the alleged Abuja-Kaduna train kidnapping negotiator and publisher of Desert Herald, accused of collecting ransom payments on behalf of Boko Haram; Abdulsamat Ohida — described as a senior commander of ISIS-West Africa Province in Okene, linked to the June 5, 2022 attack on St. Francis Catholic Church in Owo, Ondo State, and the July 5, 2022 assault on the Kuje Correctional Centre in Abuja; and Mohammed Sani — a member of Ansarul Muslimina Fi Biladissudam (ANSARU), who specialised in designing clandestine communication codes and improvised explosive devices.
Also listed are entities including Settings Bureau De Change Ltd, West and East Africa General Trading Co. Ltd, Desert Exchange Ventures Limited, and Alfa Exchange BDC. The Nigerian government directed financial institutions to immediately freeze all assets and accounts linked to the designated individuals and entities.
As a result of the U.S. action, all property and interests in property of the designated parties that are in the United States or under the control of U.S. persons are blocked and must be reported to OFAC. U.S. persons are generally prohibited from transacting with them, and foreign financial institutions that knowingly facilitate significant transactions on behalf of designated parties face secondary sanctions risk.
The U.S. State Department said sustained pressure on ISIS continues to decentralize its operations, forcing it to rely increasingly on financial intermediaries to connect its global network.
The Trump administration has committed to “continue to use every diplomatic and legal tool available to hold ISIS and its supporters accountable – wherever they operate and however they move money”.
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