US names Lagos businessman, three BDCs in alleged ISIS funding network
By Aboki Forex —
The United States government has named a Lagos-based businessman and three Nigerian Bureau de Change operators in an alleged network financing the Islamic State (ISIS).
The U.S. Department of the Treasury announced sanctions against Muhammad Mukhtar Adamu from Lagos and three BDC entities. They are Generation Currency Bureau de Change Limited, Nine to Nine Exchange Bureau de Change Limited, both in Lagos, and Manhattan Bureau de Change Limited in Kano.
The U.S. State Department said the network moved money across Nigeria, Turkey, Syria, and France using currency exchange businesses. The funds allegedly supported ISIS-West Africa.
Tommy Pigot, a State Department spokesperson, said the financial facilitators used money exchange businesses to move money for the group.
The U.S. also sanctioned Abdelhakim Boukich of Syria and Miloud Abderrahmane of France, along with other entities in Syria and Turkey.
The Treasury said the sanctioned entities are believed to be involved in financial activity linked to ISIS. The U.S. says the sanctions will disrupt financing networks and limit access to the international financial system.