The U.S. has sanctioned Lagos-based Bureau De Change operator Mukhtar Muhammad and three associated firms, accusing them of channeling funds for ISIS-West Africa (ISWAP). OFAC alleges Muhammad facilitated financial transactions for the terrorist group. This marks the first public designation for Muhammad and his companies in terrorism financing. Sanctions block assets and prohibit transactions with designated individuals and entities, with foreign institutions facing penalties for facilitating support.
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