US Lists Nigerian Companies Linked to Alleged Terrorism Funding

The United States has imposed sanctions on a Nigerian national and several companies operating in Nigeria, Türkiye, and Syria over alleged involvement in a financial network linked to the Islamic State of Iraq and Syria (ISIS), according to the United States Department of State.

The move forms part of a wider enforcement action targeting individuals and entities accused of facilitating cross-border funding channels for the Islamic State of Iraq and Syria (ISIS), spanning Europe, the Middle East, and West Africa.

US Says Network Spans Multiple Regions

A spokesperson for the State Department, Thomas Pigott, said the sanctioned network reflects a coordinated effort enabling ISIS-linked money transfers across continents.

He noted that the individuals and firms operate across France, Syria, Türkiye, and Nigeria, allegedly moving funds through both traditional financial services and digital assets.

Individuals Sanctioned

The US identified three individuals allegedly connected to the network:

Abdelhakim Boukich (also known as Abu Sulayman and Muhammad Babili) — linked to Syria and the Netherlands

Abderrahmane Miloud (also known as Ibrahim Ghazi) — a French national accused of facilitating cryptocurrency-related transactions

Muhammad Mukhtar Adamu — a Nigerian national based in Lagos, alleged to be tied to ISIS-West Africa financial operations

Companies and Financial Entities Named

Several companies were also placed under sanctions for alleged roles in the network:

1. Alkaram Danismanlik Gayrimenkul Ic Ve Dis Genel Ticaret Limited Sirketi — also known as Al-Karam Money Transfer Company, based in Istanbul, Türkiye

2. Bitcoin Exchange Agent Idlib No.1 Coin Exchange — operating in Idlib and surrounding Syrian regions

3. Generation Currency Bureau De Change Limited — operating in Lagos, Nigeria

4. Manhattan Bureau De Change Limited — based in Kano, Nigeria

5. Nine To Nine Exchange Bureau De Change Limited — based in Ikeja, Lagos State

6. Spider Gayrimenkul Ve Genel Ticaret Limited Sirketi — also known as Spider Money Transfer Company, operating in Türkiye

US authorities say these firms were allegedly used to move and obscure funds connected to ISIS-related operations through currency exchange services and digital financial channels.

US Government Response

The State Department said the action reflects Washington’s continued effort to disrupt global terror financing networks.

Officials stated that the United States will continue using diplomatic, financial, and legal measures to target entities supporting terrorist organisations.

The Islamic State of Iraq and Syria has been designated a Specially Designated Global Terrorist (SDGT) organisation since 2004.

Authorities say further sanctions remain possible as investigations into global financing networks continue.