The Nigerian Financial Intelligence Unit (NFIU) has revealed that terrorist organizations in Nigeria are being funded through various channels, including global crowdfunding, online transactions, and sports betting. The NFIU specifically identified groups such as Boko Haram, ISWAP, the Indigenous People of Biafra (IPOB), bandits, and other similar groups as beneficiaries of these illicit funds.
According to the NFIU, a network of IPOB affiliates across 22 countries has been identified, with at least 27 entities registered under the group's name. The unit highlighted that funds raised by IPOB through crowdfunding, amounting to over $160,000, were channeled to transmission, media, and broadcasting companies in Bulgaria, South Africa, and the UK.
Furthermore, the NFIU reported that a betting platform known as XC filed a suspicious transaction report involving a 24-year-old Nigerian customer from the North-Central region who received over N350,000 in his betting wallet, suspected to be ransom money from a kidnapping.
Additionally, the NFIU uncovered instances where terrorists attempted to evade detection by making structured cash withdrawals from various Automated Teller Machines (ATMs) and purchasing flight tickets to high-risk areas using credit cards. These individuals also attempted suspicious transfers to local charities with potential links to terrorism, along with transactions for luxury goods and escort services, which raised red flags for authorities.
