The Nigerian Financial Intelligence Unit (NFIU) has revealed the alleged financing of terrorist groups in Nigeria like the Indigenous People of Biafra (IPOB), bandits and other similar groups. This revelation was contained in a newsletter which stated that these groups receive funds via sports betting platforms and crowdfunding. The newsletter reads, “Nigeria, Africa’s most populous country has faced significant challenges related to terrorism financing, particularly due to the activities of Boko Haram and other extremist groups operating within its borders.
“These groups have been involved in various forms of illicit financing to fund their operations, including attacks, recruitment and procurement of weapons.
“The strategies employed by terrorist groups to generate and move funds within Nigeria’s financial landscape include, crowdfunding, the use of online platforms and the use of betting platforms amongst others.
“The diaspora affiliates of the IPOB group have spread over 22 countries across the globe.
“Further analysis exposed 27 entities across the globe registered in the name of the group, the US and the UK had the highest number of registrations, having 7 and 6 registered entities respectively.
“The analysis further indicates that the group has several bank accounts in different countries where funds are being received from various contributors with the narrations ‘Monthly Dues, Services and for ESN’ among others, then later disbursed.
“It was observed that over $160,000 (One hundred and sixty thousand dollars) was disbursed to Transmission, Median and Broadcasting companies in Bulgaria, South Africa and United Kingdom.
“The Analysis profiled the leader of the group, his addresses and mobile numbers abroad with other 53 individuals associated with the dissident group. The report was forwarded to law enforcement for further investigation.”
The report by the Unit also revealed a transaction by a 24 year old from North Central Nigeria, who received over N350,000 in his betting wallet, suspected to be proceeds from a kidnapping.
The NFIU urged security agencies to investigate unauthorized tax collection/forced donations in terrorist-controlled areas, Bureau de Change operators involved with suspected terrorists, multiple cash deposits of associates of suspected terrorists, financial transfers to charities linked to terrorism etc.
