August 25, 2026
By Kingsley Omonobi
The 2026 Annual Nigeria Financial Intelligence Report has revealed that terrorists and extremist groups are increasingly using crowdfunding networks to raise funds for their criminal activities.
The report by the Nigeria Financial Intelligence Unit (NFIU) said terrorist financiers were also opening bank accounts in women’s names and using phone numbers for mobile banking or account alerts that were not registered to the account holders or actual beneficiaries.
According to the report, the crowdfunding schemes involved foreign-based facilitators using social media platforms to solicit donations under the guise of humanitarian relief or educational support before moving the funds through multiple layers to terrorist operatives in Nigeria.
