FG Backs US Crackdown on Alleged Terrorism Financiers, Hails Move Against ISWAP Funding Network

The Federal Government has welcomed the recent sanctions imposed by the United States on individuals and businesses accused of facilitating terrorism financing linked to extremist groups operating in West Africa.

The sanctions, announced by the U.S. Treasury Department, target Lagos-based businessman Mukhtar Adamu Muhammad and three bureau de change companies allegedly used to channel funds to the Islamic State West Africa Province (ISWAP). The U.S. said the measures are aimed at disrupting financial networks that support terrorist activities in the region.

Nigerian authorities described the move as a positive step in the global fight against terrorism and reaffirmed their commitment to working with international partners to identify, track, and dismantle financial networks that fund violent extremist groups.

Officials noted that combating terrorism requires not only military operations but also sustained efforts to cut off the financial resources that enable terrorist organizations to recruit members, acquire equipment, and carry out attacks.

The development comes amid increased cooperation between Nigeria and international allies on counterterrorism measures, including intelligence sharing, sanctions enforcement, and financial monitoring aimed at preventing the movement of funds to designated terrorist organizations.

Security analysts say targeting financiers is a critical component of weakening extremist groups, as disrupting funding channels can significantly reduce their operational capabilities and influence.