The Nigerian Financial Intelligence Unit has uncovered the purported funding of terrorist activities in Nigeria by various groups including the Indigenous People of Biafra (IPOB), bandits, and other terror organizations. This financing reportedly occurred through global crowdfunding platforms and sports betting websites.
According to the financial intelligence unit, IPOB allegedly received funds from affiliates in 22 countries, with at least 27 registered entities under the group’s name. Seven registrations were reportedly made in the United States, while six were in the United Kingdom.
Furthermore, it was disclosed that over $160,000 raised through crowdfunding by IPOB was transferred to transmission, media, and broadcasting companies in Bulgaria, South Africa, and the UK.
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Detailed information regarding these revelations was provided in a newsletter by the NFIU’s Counter-Financing of Terrorism Department. The report included profiles of the group’s leader, associated individuals, addresses, and mobile numbers abroad. This information has been forwarded to law enforcement for further investigation.
Moreover, the NFIU revealed instances where suspicious transactions were flagged, including a 24-year-old Nigerian customer from North-Central Nigeria who allegedly received over N350,000 in his betting wallet, believed to be ransom money from a kidnapping.
Additionally, the unit exposed a terrorist’s attempt to evade detection by making structured cash withdrawals from various ATMs and purchasing flight tickets to high-risk areas using credit cards. Suspicious transfers to local charities with potential links to terrorism, along with transactions for luxury goods and escort services, were also highlighted.
The NFIU urged law enforcement agencies to investigate transactions by individuals linked to known terrorists or financiers, unauthorized tax collections in terrorism-prone areas, and Bureau de Change operators facilitating transfers within suspected networks. Other areas of concern include multiple cash deposits, large deposits followed by cash withdrawals at Point of Sale terminals, money transfers to high-risk countries, recruitment for opening multiple bank accounts, and financial transfers to charities associated with terrorism.
