"NFIU Exposes Shocking Terror Funding: IPOB and Bandits Utilize Crowdfunding and Betting Platforms, Reveals Investigation"

 

 Nigerian Financial Intelligence Unit Reveals Funding of Terrorism by IPOB and Bandits Through Crowdfunding and Betting Platforms

The Nigerian Financial Intelligence Unit (NFIU) has made startling revelations regarding the alleged financing of terrorist activities in Nigeria by groups such as the Indigenous People of Biafra (IPOB) and bandits, utilizing global crowdfunding platforms and sports betting channels.

According to the NFIU, IPOB has been identified as receiving funds through affiliates in 22 countries, with at least 27 entities registered under its name. Notably, seven of these registrations were made in the United States, while six were in the United Kingdom.

The unit disclosed that IPOB managed to raise over $160,000 through crowdfunding, with the funds being channeled to transmission, media, and broadcasting companies in Bulgaria, South Africa, and the UK.

Furthermore, the NFIU highlighted that IPOB maintains several bank accounts across different countries, where funds are received from various contributors under different pretexts such as "monthly dues" and "services," before being disbursed for various operations.

In a newsletter obtained by correspondents, the NFIU revealed that it has profiled the leader of IPOB along with 53 other individuals associated with the group. This report has been forwarded to law enforcement agencies for further investigation.

In addition to IPOB's alleged activities, the NFIU uncovered suspicious transactions on betting platforms, where a 24-year-old Nigerian from the North-Central region received over N350,000 in his betting wallet, believed to be ransom money from a kidnapping.

Another concerning revelation by the NFIU involved a terrorist attempting to evade detection by making structured cash withdrawals from different Automated Teller Machines and purchasing flight tickets to high-risk areas using credit cards. The individual also made suspicious transfers to a local charity with potential links to terrorism, along with transactions for luxury goods and escort services.

The NFIU urged law enforcement agencies to investigate transactions by individuals linked to known terrorists or financiers, unauthorized tax collection or forced donations in terrorism-prone areas, and Bureau de Change operators facilitating transfers within suspected networks.

Furthermore, the unit emphasized the importance of monitoring multiple cash deposits in bank accounts, large deposits followed by cash withdrawals at Point of Sale operators, money transfers from Nigeria to high-risk countries, recruitment of individuals to open multiple bank accounts, and financial transfers to charities linked to terrorism.

The revelations by the NFIU shed light on the complex network of financing that sustains terrorist activities in Nigeria and underscore the need for vigilant oversight and enforcement measures to combat terrorism financing effectively.

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