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US Sanctions on 1 Nigerian Citizen
and 3 Nigerian Companies Published: August 14, 2026

sanctions

CIRCULAR TO ALL CAPITAL MARKET REGULATED ENTITIES

NOTICE OF SANCTIONS

The United States Government has named a Nigerian citizen and three Nigerian companies among individuals and businesses newly sanctioned for facilitating financial transactions linked to the Islamic State of Iraq and Syria (ISIS) and ISIS-West Africa. The individual and entities named in the new sanctions list are:

  1. Mukhtar Adamu Muhammad (also known as Mukhtar Adamu and Muhammad Mukhtar).
  2. Generation Currency Bureau De Change Limited.
  3. Manhattan Bureau De Change Limited.
  4. Nine to Nine Exchange Bureau De Change Limited.

All Capital Market Regulated Entities (CMREs) are accordingly by this circular directed to:

  • immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated individual and entities in their possession and report same to the Secretariat of the Nigeria Sanctions Committee;
  • report to the Secretariat of the Nigeria Sanctions Committee, any assets frozen or actions taken in compliance with the designation, including attempted transactions;
  • immediately file a suspicious transactions report to the NFIU for further analysis on the financial activities;
  • report as suspicious transactions to the NFIU, all cases of name matching in financial transactions prior to or after receipt of this Sanctions List;
  • subsequently prohibit dealings with the designated person and entities; and
  • continue to check for transactions relating to the designated person and entities and report findings to the Nigeria Sanctions Committee through info@nigsac.gov.ng.

This circular takes immediate effect and failure to comply with these directives constitutes a violation of the Investments and Securities Act, 2025, and the SEC AML/CFT Rules and Regulations and would attract appropriate regulatory sanctions, including fines, suspension of operations, or revocation of registration.

SIGNED
MANAGEMENT
JUNE 26, 2026

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