An intelligence report by the Nigerian Financial Intelligence Unit has uncovered a vast network of individuals, companies and foreign affiliates linked to Boko Haram’s financing.
The NFIU, which took full charge of such investigations in 2020, analysed suspicious transactions, UAE terrorism convictions, and military intelligence.
The findings trace funding activities to 1,801 bank accounts across 18 Nigerian financial institutions, connecting the group’s operations to numerous businesses and suspected financiers nationwide.
The report also highlights international links involving actors in the UAE, India, Rwanda, Cameroon, Benin Republic, Niger and Uganda. Investigators identified 96 suspects in Nigeria, with Kano recording the highest concentration.
The network, which includes Bureau De Change operators, traders and known kidnappers, underscores Boko Haram’s reliance on complex financial and logistical structures.
Authorities say the intelligence offers a roadmap for dismantling systems sustaining the terrorist group’s activities.