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NFIU Exposes Terrorist Funding Tactics
The diaspora affiliates of the IPOB group have spread over 22 (twenty-two) countries across the globe.
Abuja, Nigeria– The Nigerian Financial Intelligence Unit (NFIU) has disclosed the intricate web of funding mechanisms utilized by terrorist groups operating within the country.
In its latest newsletter, the NFIU announced the discovery of a “network of affiliates associated with the Indigenous People of Biafra (IPOB) spanning 22 countries.” The report highlighted crowdfunding by numerous individuals overseas as a significant revenue stream for the group.
The agency also said betting platforms are also being explored by some terrorist groups in the country.
“Nigeria, Africa’s most populous country, has faced significant challenges related to terrorism financing, particularly due to the activities of Boko Haram and other extremist groups operating within its borders.
“These groups have been involved in various forms of illicit financing to fund their operations, including attacks, recruitment, and procurement of weapons.
“The strategies employed by terrorist groups to generate and move funds within Nigeria’s financial landscape include, crowdfunding, the use of online platforms and the use of betting platforms amongst others.
“The diaspora affiliates of the IPOB group have spread over 22 (twenty-two) countries across the globe. Further analysis exposed 27 entities across the globe registered in the name of the group, the US and the UK had the highest number of registrations, having 7 and 6 registered entities respectively.
“The analysis further indicates that the group 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.
“It was observed that over $160,000 (One hundred and sixty thousand Dollars) was disbursed to Transmission, Media, and Broadcasting companies in Bulgaria, South Africa, and the United Kingdom.
“The Analysis profiled the leader of the group, his addresses, and mobile numbers abroad with other 53 individuals associated with the dissident group.”