An extensive intelligence report by the Nigerian Financial Intelligence Unit (NFIU) has revealed a complex network of individuals, companies, and international actors financing Boko Haram, highlighting the global reach of the terrorist group’s financial operations.

The investigation, approved by presidential directive on January 10, 2020, analyzed suspicious transactions, records from six Nigerians convicted in the UAE for terrorism financing, and intelligence from the Nigerian Army and other security agencies. In 2017, these six individuals were arrested in Dubai and later convicted by the Abu Dhabi Federal Appeal Court for supporting Boko Haram.

Key Findings:

• Individuals: 96 Nigerians linked to financing operations were identified across cities including Kano (58 suspects), Abuja, Lagos, Maiduguri, Zaria, Sokoto, Ilorin, Gusau, and Niger State. Prominent names include Ibrahim Mohammed, Umar Abubakar, Haruna Muhammad, Mustapha Sani, Faiza Salihu, Sumayya Ahmed Tata, and Abubakar Sani.
• Companies: Numerous businesses tied to these individuals were used to move funds, spanning trading companies, automobile services, mining, jewelries, and Bureau De Change (BDC) operations. Notable BDCs include Yaura Bureau De Change, Alfa Exchange, Mussa Emma BDC, and Danwali BDC. Other enterprises include Abubakar Hamid International, Al-Mustaqbal Enterprises, Amg Mining and Gems, Anytime Money Enterprise, among others.
• Bank Accounts: Financial operations were traced through 1,801 bank accounts across 18 banks, including Access Bank, Citibank, Diamond Bank, Eco Bank, FCMB, Fidelity, First Bank, GTBank, Zenith, UBA, and others.
• International Links: The network extends to 18 foreign individuals connected to Rwanda, Niger, UAE, Dubai, India, Cameroon, Benin Republic, and Uganda, with companies like Nabil Mass Business Company (UAE), Eagle Square General Trading LLC (UAE), and Vinayak Pharma Chem Equipment (India) implicated.
• Connections to Bandits and Kidnappers: The report identified links between Boko Haram financiers and local bandits and kidnappers, including Samaila Ibrahim, Ibrahim Ummaru, Aliyu Abubakar Umar, Dadaki Sada Musa, and Yahaya Galadima.
• Geographical Reach: Activities span key Nigerian cities—Kano, Abuja, Lagos, Maiduguri, Zaria, Gusau, Sokoto, Ilorin, and Niger State—and internationally across the UAE, India, Rwanda, Cameroon, Benin Republic, Niger, and Uganda.

The NFIU report emphasizes that financial intelligence is critical to disrupting terrorist networks, offering law enforcement agencies a roadmap to dismantle the funding mechanisms sustaining Boko Haram operations.