EFCC Set To Prosecute Lagos Bureau De Change Operator Over Alleged Terrorism Funding

The Economic and Financial Crimes Commission, EFCC  has  concluded major aspects of its investigation into a Lagos-based Bureau De Change (BDC) operator, Mukhtar Adamu Muhammad, and three companies linked to him over alleged terrorism funding before the US government imposed sanctions on them, sources within the anti-graft agency have disclosed.

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‎Top EFCC officials familiar with the investigation told journalists that the commission was preparing criminal charges against the suspects when the United States announced sanctions against them over alleged links to the Islamic State of Iraq and Syria.

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‎The development followed the designation of Muhammad and three Nigerian companies by the United States as alleged financial facilitators for ISIS operations.

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‎In a statement issued on Monday, the U.S. Department of State, through its spokesperson, Thomas Pigott, said the sanctions affected individuals and entities operating in France, Syria, Türkiye and Nigeria.

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‎The sanctions formed part of a broader action targeting three individuals and six entities accused of facilitating the movement of funds for ISIS activities across several countries.

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‎According to the U.S. authorities, Mukhtar Muhammad and the affected companies acted as financial conduits for the Islamic State West Africa Province by facilitating the movement of funds on behalf of the terrorist organisation.

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‎Under the sanctions, any assets or interests in property belonging to the designated individuals and entities within U.S. jurisdiction are frozen, while U.S. citizens and businesses are generally prohibited from engaging in transactions with them.

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‎Although the EFCC has yet to issue an official statement, sources said the agency’s investigation centred on alleged terrorism financing and suspicious financial transactions linked to terrorist activities.

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‎The officials, however, declined to state when formal charges would be filed.

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