By Stephen Simon
Terrorist networks operating in Nigeria are increasingly exploiting crowdfunding platforms, women’s bank accounts and telephone lines registered in the names of deceased persons to raise and move funds for their operations, the Nigerian Financial Intelligence Unit (NFIU) has disclosed.
According to a fresh financial intelligence report highlighted by The PUNCH on Tuesday, foreign-based facilitators solicit money through social media, often presenting the appeals as humanitarian or educational causes before moving the proceeds through multiple channels.
The NFIU said individual donors typically contribute between $50 and $500, with the funds subsequently fragmented and transferred through money-transfer operators and remittance applications to money mules in Nigeria.
The agency also identified the use of telephone numbers and mobile banking facilities that are not registered to the actual account holders or beneficiaries as another method being employed to conceal the identities of those controlling the funds.
According to the financial intelligence report, terrorists have also exploited women’s bank accounts to disguise the identities of male commanders and logistics handlers involved in their operations.
Students, small-business operators and relatives of suspected facilitators were among those allegedly used as money mules, highlighting the growing sophistication of financial networks supporting terrorist activities.
The development presents another challenge for Nigeria’s security agencies because tracking the movement of terrorist funds is often as important as locating the individuals carrying out attacks.
The NFIU’s findings also underline the importance of stronger cooperation between financial institutions, telecommunications companies, security agencies and international money-transfer platforms in identifying suspicious transactions.
The disclosure comes amid continuing security concerns across several parts of Nigeria, where armed groups have carried out attacks, kidnappings and other violent operations.
The latest findings are therefore likely to intensify calls for financial institutions and relevant agencies to strengthen monitoring systems and ensure that legitimate financial channels are not exploited to fund terrorism.
