BY FRONTLINE REPORTERS
Residents of Agege, Lagos, have expressed shock following the designation of a local businessman, Alhaji Mukhtar Adamu Muhammad, by the United States government as an alleged financier of the Islamic State West Africa Province (ISIS-WA).
Many neighbours described Muhammad as a quiet and deeply religious man who kept to himself and regularly worshipped at a mosque in the community, saying they found the allegations difficult to reconcile with the man they knew.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) last week announced sanctions against Muhammad, accusing him of facilitating financial transactions for ISIS-West Africa through bureau de change businesses operating in Nigeria.
According to the U.S. government, the sanctions form part of a broader counter-terrorism operation targeting individuals and companies allegedly involved in financing ISIS networks across Europe, the Middle East and West Africa.
Washington said three individuals and six entities were sanctioned for allegedly helping the terrorist group move funds across borders to support its operations and regional affiliates.
The U.S. alleged that Muhammad conducted money transfers on behalf of ISIS-WA and listed his address as No. 45, Abimbola Street, off Capitol Road, by Morcas, Agege, Lagos.
He was also linked to three bureau de change companies allegedly under his ownership or control: Nine To Nine Exchange Bureau De Change Limited in Ikeja, Manhattan Bureau De Change Limited in Kano, and Generation Currency Bureau De Change Limited in Lagos.
Search for Listed Addresses
A visit by Sunday Vanguard to the Agege address revealed a quiet residential neighbourhood where residents appeared surprised by the international attention focused on one of their neighbours.
Finding the property proved difficult due to the irregular numbering of houses along Abimbola Street, with several residents offering conflicting directions before the location was eventually identified with the aid of Google Maps.
The duplex listed by the U.S. authorities appeared calm, with no obvious signs of unusual activity.
Earlier, this reporter visited Block 7 of the FAAN Complex on Airport Road, Ikeja, the address provided by OFAC for Nine To Nine Exchange Bureau De Change Limited.
However, security personnel and workers within the complex said they were unaware of any company operating under that name.
A security officer said several logistics firms and a few bureau de change operators were based in the complex but noted that he had never heard of Nine To Nine Exchange.
Another security operative gave a similar account, saying the company’s name was unfamiliar despite having worked at the premises for some time.
Employees of businesses operating within the complex also said they had no knowledge of the bureau de change firm named in the U.S. sanctions.
Interestingly, Block 7 bears signs identifying it as the Zamfara State Government Temporary Lagos Liaison Office, while another banner indicates that Turnkies Nig. Ltd also operates from the building.
Two staff members inside the premises, however, insisted the office currently belonged to a construction company.
Attempts to obtain clarification from the complex management were unsuccessful, as officials were unavailable during the visit.
Wider Sanctions
In addition to Muhammad, the U.S. Treasury sanctioned French national Abderrahmane Miloud, also known as Ghazi Ibrahim, and Syria-based Abdelhakim Boukich, also known as Babili Muhammad, alleging that both played roles in facilitating ISIS-related financial activities.
According to the Treasury Department, ISIS has increasingly relied on decentralised financial networks and intermediaries following sustained counter-terrorism operations against the group.
The sanctions freeze any assets belonging to the designated individuals and entities that fall within U.S. jurisdiction and prohibit American citizens and businesses from engaging in transactions with them.
The U.S. also warned that financial institutions and other persons who knowingly conduct business with sanctioned individuals could face secondary sanctions.
Treasury Secretary Scott Bessent said the United States would continue using all available tools to disrupt terrorist financing networks and prevent ISIS from rebuilding its operational capabilities.
As of the time of filing this report, neither Muhammad nor the companies named in the U.S. sanctions had publicly responded to the allegations, while Nigerian authorities had yet to announce any criminal charges in connection with the case.
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2026-06-27