Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
The Nigerian Financial Intelligence Unit has raised serious concern about how terrorist groups are finding new ways to move money. According to its 2025 annual report, extremists are now opening bank accounts in women's names and using fake charity campaigns to hide their activities.
The report, released on Tuesday, August 25, 2026, shows that terrorist financiers are using women's identities to keep their operations hidden. They open accounts in the names of wives, sisters, or female friends, but they keep control of the ATM cards and mobile banking access. The women often do not know how much money is moving through their accounts. This makes it very hard for investigators to track the real people behind the transactions.
Another method the report uncovered is the use of crowdfunding. Terrorists are using social media to set up fake campaigns that look like they are for charity or education. They ask people to send small amounts of money, between $50 and $500, through apps like Telegram and Signal. These small amounts do not usually raise red flags. The money is then sent to Nigeria through different channels and given to people who withdraw it or use it to buy items like motorcycles and equipment.
The NFIU also found that terrorists are using SIM cards that are registered to dead people or to other people without their knowledge. This makes it difficult for security agencies to trace calls or transactions back to the real criminals. They also use coded words to describe payments, so banks do not flag suspicious activity.
The report says Nigeria loses about $17.72 billion every year to illegal money flows. Bribery, corruption, and terrorism each make up about 8 per cent of financial crime cases. The NFIU is calling on banks and the government to do more to check who is opening accounts and to make sure identity systems are properly linked.
This is not just a problem for security agencies. It is a problem for every Nigerian. Terrorists are using the same financial tools that ordinary people use every day. The NFIU has warned that without stronger action, these methods will continue to grow, making the country less safe for everyone.
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