Terrorism Claims: CBN Freezes 6 Individuals, 4 BDCs
Last update: June 25, 2026
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Heads up, banks — the CBN just dropped the hammer. Six people and four Bureau De Change operators are now on Nigeria’s sanctions list for alleged terrorism financing, and all their assets have to be frozen immediately.
So, here’s what went down, according to cbinews.tv. On Thursday, the Central Bank of Nigeria told every financial institution in the country to hit pause — freeze every account, transaction, and asset linked to six named individuals and four BDCs. No warnings, no delays.
The order came through a circular dated 24 June 2026 (Ref: CMD/FCS/PUB/CIR/002/011), and it’s tied to the latest Nigeria Sanctions List update that kicked in on 18 June 2026. The CBN says it’s non-negotiable: all regulated institutions have to act on it right away.
Who’s on the list?
The six individuals designated as Specially Designated Nationals are: Muktar Muhammad Adamu, Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, and Yakubu Ogirima Ibrahim.
The four Nigeria-based BDCs named are: Generation Currency Bureau De Change Limited, Manhattan Bureau De Change Limited, Nine to Nine Exchange Bureau De Change Limited, and Abbal Bako & Sons Bureau De Change Limited.
The CBN’s directive is clear: banks must “identify and immediately freeze, without prior notice, all funds, assets, and other economic resources” tied to these people and firms, whether directly or indirectly owned.
This also covers any company that’s 50% or more owned by them. Plus, banks can’t make any funds or financial services available to them — full stop.
Why now?
This follows fresh sanctions from the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) under Executive Order 13224. Earlier this week, OFAC called out Mukhtar Muhammad — a Lagos-based BDC operator, also known as Mukhtar Adamu Muhammad — for allegedly moving money for the Islamic State West Africa Province (ISWAP).
OFAC also sanctioned Nine to Nine Exchange, Generation Currency, and Manhattan Bureau De Change, saying they were used to channel funds to the terror group.
All of this was reported by cbinews.tv.
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