The Nigerian Financial Intelligence Unit (NFIU) has unveiled shocking revelations regarding the financing of terrorist activities within Nigeria.
According to recent reports, the Indigenous People of Biafra (IPOB), along with bandits and other terror groups, have been allegedly funding their operations through global crowdfunding and sports betting platforms.
The NFIU disclosed that IPOB has been receiving funds from affiliates in 22 different countries, with at least 27 registered entities under its name. Notably, seven of these registrations were traced back to the United States, while six were identified in the United Kingdom.
Furthermore, investigations revealed that over $160,000 raised through crowdfunding by IPOB was channelled to transmission, media, and broadcasting companies located in Bulgaria, South Africa, and the UK.
The NFIU detailed that IPOB operates numerous bank accounts in various countries, where funds are received from contributors under various narratives such as ‘monthly dues’ and ‘services for ESN,’ among others. These funds are subsequently disbursed for various operations.
In a newsletter made available to newsmen, the NFIU’s Counter-Financing of Terrorism Department highlighted the profiling of the group’s leader, along with 53 other individuals associated with the organization. The report has been forwarded to law enforcement for further investigation.
Additionally, the NFIU flagged suspicious activities involving a betting platform, where a 24-year-old Nigerian from the North-Central region received over N350,000 in his betting wallet, suspected to be ransom money from a kidnapping incident.
Another alarming case uncovered by the financial intelligence unit involved a terrorist attempting to evade detection. The individual made structured cash withdrawals from different Automated Teller Machines (ATMs) and purchased flight tickets to high-risk areas using credit cards. Suspicious transfers exceeding €1,000 to a local charity with potential links to terrorism were also noted.
The NFIU has urged law enforcement agencies to investigate transactions by individuals linked to known terrorists or financiers, unauthorised tax collection in terrorism-prone areas, and Bureau de Change operators facilitating transfers within suspected networks.
The unit also emphasised monitoring multiple cash deposits in bank accounts, large deposits followed by cash withdrawals at point-of-sale operators, and financial transfers to charities associated with terrorism.
