NFIU Reveals How IPOB, Bandits Fund Terrorism Through Betting Platforms, Others

The Nigerian Financial Intelligence Unit (NFIU) has discovered 27 cells connected to the Indigenous Peoples of Biafra (IPOB) in 22 countries worldwide, including the United States of America and the United Kingdom.

According to the NFIU, the US and UK have the highest number of cells per country, with seven and six operating IPOB cells respectively.

In the document titled “Counter Terrorism Financial Newsletter,” the NFIU identified 54 individuals across the globe who have ties to IPOB.

According to the document, “The NFIU has confirmed that the diaspora affiliates of the IPOB group have spread across 22 countries worldwide. Further analysis revealed 27 entities registered in the name of the group across the globe, with the US and the UK having the highest number of registrations, with seven and six registered entities respectively.”…[CONTINUE READING HERE]>>

“The analysis further indicates that the group has several bank accounts in different countries where funds are being received from various contributors with the narrations ‘Monthly Dues, Services and for ESN’, among others, then later disbursed for various operations.

“It was confirmed that one of the major sources of revenue for the group is crowdfunding by several individuals abroad, mostly Nigerians.

“It was observed that over $160,000 was disbursed to Transmission, Media, and Broadcasting companies in Bulgaria, South Africa, and the United Kingdom. The analysis profiled the leader of the group, his addresses, and mobile numbers abroad with other 53 individuals associated with the dissident group. The report was forwarded to Law Enforcement for further investigation.”

The unit disclosed these findings in a newsletter that exposes the financing of terrorist activities in Nigeria by IPOB, bandits, and other terrorist groups through global crowdfunding and sports betting platforms.

“This 24-year-old from Nigeria’s North-Central region received over N350,000 in his betting wallet, believed to be ransom money from a kidnapping,” the NFIU said.

The NFIU also revealed that a betting platform, referred to as ‘XC’, reported a Suspicious Transaction Report concerning a 24-year-old Nigerian customer from North-Central, Nigeria.

In another case, the financial intelligence unit uncovered a terrorist attempting to avoid detection. The individual made structured cash withdrawals from various Automated Teller Machines and used credit cards to purchase flight tickets to high-risk areas.

The NFIU explained that whenever the individual exceeded his withdrawal limit, he would use alternative methods of travel.

“The terrorist then attempted suspicious transfers exceeding €1,000 to a local charity with potential links to terrorism. These transactions, along with others for luxury goods and escort services, raised red flags.”…[CONTINUE READING HERE]>>