According to the Nigerian Financial Intelligence Unit (NFIU), terrorist activities in Nigeria, including those carried out by the Indigenous People of Biafra (IPOB) and bandits, have allegedly been funded through global crowdfunding and sports betting platforms. The NFIU revealed that IPOB received funds from affiliates in 22 countries, with at least 27 registered entities under the group’s name.
“The analysis further indicates that the group (IPOB) 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 for various operations,” the NFIU stated.
In addition, the NFIU identified that over $160,000 raised through crowdfunding by IPOB was channeled to transmission, media, and broadcasting companies in Bulgaria, South Africa, and the UK. The unit’s Counter-Financing of Terrorism Department forwarded a report containing details of the analysis, including the leader’s profile, associated individuals, and their addresses and mobile numbers abroad, to law enforcement for further investigation.
The NFIU also highlighted a case where a betting platform reported a suspicious transaction involving a 24-year-old Nigerian customer who received over N350,000 in his betting wallet, suspected to be ransom money from a kidnapping. Furthermore, the unit exposed a terrorist attempting to evade detection by making structured cash withdrawals from different ATMs and purchasing flight tickets to high-risk areas using credit cards.
Law enforcement agencies have been urged by the NFIU to investigate transactions by individuals linked to known terrorists or financiers, unauthorized tax collections or forced donations in terrorism-prone areas, and Bureau de Change operators facilitating transfers within suspected networks.
The unit specifically emphasized the need to scrutinize multiple cash deposits in bank accounts, large deposits followed by cash withdrawals at Point of Sale operators, money transfers from Nigeria to high-risk countries, recruitment of individuals to open multiple bank accounts, and financial transfers to charities associated with terrorism.
“The terrorist then attempted suspicious transfers exceeding €1,000 to a local charity with potential links to terrorism. These transactions, along with others for luxury goods and escort services, raised red flags,” stated the NFIU newsletter.
The NFIU’s findings shed light on the alleged sources of funding for terrorist activities in Nigeria, emphasizing the importance of thorough investigations and heightened vigilance in combating terrorism financing.
