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This situation has concluded and was preserved as a record on August 2. The timeline below shows how it unfolded, with sources.

[SITUATION] · [QUIET]

6 clusters · 40 sources · 10 days · First seen · Last updated

Categories: CRIME · INTERNATIONAL · BUSINESS

US‑Nigeria sanctions on BDC network; CBN freeze

Overview

In late June 2026 the U.S. Treasury’s OFAC and State Department sanctioned a network of Nigerian bureau‑de‑change (BDC) operators and overseas facilitators for terrorism financing, designating three individuals and four firms and blocking all U.S.-jurisdiction assets. The Central Bank of Nigeria (CBN) issued a circular on 24 June ordering banks, payment‑service providers and regulated financial institutions to freeze accounts, assets and economic resources of the listed parties and to screen customers against the updated Nigeria Sanctions List.

On 28 June a bungalow in Lagos identified as the residence of one sanctioned individual was found deserted, prompting local police patrols but no demolition. On 30 June the United States publicly detailed the alleged ISIS‑financing network, naming a Nigerian national, several companies and locations across Europe, the Middle East and West Africa, and urged coordinated action from Nigerian security and intelligence agencies.

On 2 July Nigeria’s Financial Intelligence Unit, acting on the Nigeria Sanctions Committee, designated six individuals and three companies for suspected terrorism financing under the Terrorism (Prevention and Prohibition) Act and UN resolutions, ordering the immediate freezing of all assets and economic resources linked to them. OFAC simultaneously imposed sanctions on the same Lagos‑based BDC operator and associated firms, aligning with the Nigerian measures. The CBN reaffirmed its directive to banks to freeze accounts tied to the sanctioned entities, extending the coordinated crackdown across West Africa, Europe and the Middle East targeting funds for ISIS and ISWAP.

Timeline

  1. about 1 month ago

    [CRIME] 2 sources
    Nigeria and U.S. Sanction Firms Over Terror Financing

    Nigeria’s NFIU and the U.S. Treasury sanctioned six individuals and three firms for terror financing, prompting the Central Bank of Nigeria to freeze related assets.

  2. about 1 month ago

    [INTERNATIONAL] 2 sources
    United States sanctions Nigerian network accused of financing ISIS

    The U.S. sanctioned a Nigerian-linked ISIS financing network, freezing assets and urging Nigeria’s agencies to coordinate investigations and dismantle the financial channels.

  3. about 1 month ago

    [CRIME] 2 sources
    Lagos house linked to alleged ISIS financier found deserted

    U.S. sanctions named a Lagos bungalow as the home of alleged ISIS financier Mukhtar Muhammad; investigation shows the house abandoned, sparking shock among local residents who deny any link to terrorism.

  4. about 1 month ago

    [BUSINESS] 2 sources
    Central Bank of Nigeria orders banks to freeze assets of terror‑financing suspects

    Nigeria's central bank ordered all banks to freeze accounts of six individuals and several bureau de change firms sanctioned for terrorism financing, demanding immediate compliance and reporting.

  5. about 1 month ago

    [BUSINESS] 16 sources
    Central Bank of Nigeria orders banks to freeze accounts of terrorism‑financing suspects

    The Central Bank of Nigeria ordered all banks to freeze accounts, assets and transactions of six individuals and four Bureau de Change firms designated for terrorism financing after US and Nigerian sanctions.

  6. about 1 month ago

    [INTERNATIONAL] 24 sources
    US sanctions Nigerian money changers over ISIS financing

    US sanctions Nigerian national Mukhtar Adamu and three Nigerian bureau de change firms for alleged ISIS financing, part of a network spanning Europe, Middle East and West Africa; assets blocked and US persons a

Sources

africa-news.uk · booktrib.com · brainnewspaper.com · businesselitesafrica.com · championnews.com.ng · chronicle.ng · citypeopleonline.com · dailytrust.com · diarioestrategia.cl · dmarketforces.com · europeansanctions.com · fellowpress.com · globalupfront.com · gwg.ng · infobae.com · isolavirtuale.it · kemifilani.ng · naijanews.com · newscentral.africa · nigerianeye.com · ntd.com · osundefender.com · persecondnews.com · platinumpost.ng · pointblanknews.com · prnigeria.com · punchng.com · puoreports.ng · realnewsmagazine.net · royalnews.com.ng · socialnews.xyz · thechronicle.com.gh · thegeniusmedia.com.ng · theglittersonline.com.ng · thepodiummedia.com · thewhistler.ng · thisdaylive.com · tori.ng · tribuneonlineng.com · tvcnews.tv