The Nigerian Financial Intelligence Unit (NFIU) has disclosed how terrorist groups in the country are funded, revealing insights into their financial operations. According to the NFIU, terrorist organizations receive funds through crowdfunding, online transactions, and betting platforms.
In a newsletter, the financial intelligence unit highlighted the challenges posed by terrorist financing, particularly due to the activities of groups like Boko Haram and others. The strategies employed by these groups include illicit financing to support operations such as attacks, recruitment, and procurement of weapons.
The NFIU also identified a network of affiliates of the Indigenous People of Biafra (IPOB) across 22 countries, indicating the global reach of the group. Further analysis revealed numerous entities registered in the name of the group, with the US and the UK having the highest number of registrations.
The analysis detailed the movement of funds, with funds being received from various contributors and later disbursed for various purposes, including media and broadcasting services. Notably, over $160,000 was disbursed to companies in Bulgaria, South Africa, and the United Kingdom.
Additionally, the report profiled the leader of the group, along with other associated individuals, and was forwarded to law enforcement agencies for further investigation.
This disclosure comes in the wake of the federal government releasing a list of entities suspected to be involved in terrorism financing, as well as the Defence Headquarters declaring 97 suspected terrorists wanted.
