Nigeria: Nfiu Uncovers How Terrorist Financiers Use Women's Bank Accounts, Crowdfunding in Operations
The report says the schemes use small donations, money mules and coded narrations to move funds while avoiding automated anti-money-laundering alerts.
- In its 2025 Annual Report, the Nigerian Financial Intelligence Unit identified that terrorist financiers secretly use bank accounts opened in women's names to move illicit funds, with male commanders controlling the accounts.
- The NFIU described this as identity laundering, where men hold ATM cards and PINs while using pre-registered SIMs or SIMs tied to deceased persons to sever audit trails and remain anonymous.
- Facilitators utilize crowdfunding networks to collect donations of $50 to $500 from sympathizers, amounts small enough to avoid automated AML alerts that would trigger investigative scrutiny.
- Terrorist cells linked to the Islamic State West Africa Province use coded transaction descriptions to evade keyword filters. "This practice obscures the true purpose of transfers, preventing detection," the Unit revealed.
- Facilitators consolidate funds into master accounts before transferring them to money mules, including students and small-business owners in Nigeria, further complicating investigators' ability to trace the financial footprint.
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11 Articles
Nigeria: Nfiu Uncovers How Terrorist Financiers Use Women's Bank Accounts, Crowdfunding in Operations
The funds would then be consolidated in a master account before being split into smaller payments and transferred through international money-transfer operators and remittance applications to a network of Nigerian money mules.
NFIU uncovers how terrorist financiers use women's bank accounts, crowdfunding in operations
The funds would then be consolidated in a master account before being split into smaller payments and transferred through international money-transfer operators and remittance applications to a network of Nigerian money mules. The post NFIU uncovers how terrorist financiers use women’s bank accounts, crowdfunding in operations appeared first on Premium Times Nigeria.
NFIU reveals tactics terrorist financiers use to move, conceal illicit funds
The Nigerian Financial Intelligence Unit (NFIU) has uncovered increasingly sophisticated methods allegedly being used by terrorist financiers to conceal illicit funds, including the use of bank accounts opened in the names of women, disguised phone numbers, coded transaction descriptions and online crowdfunding platforms. The revelations are contained in the NFIU’s 2025 annual report, which provides insight into emerging techniques being deploye…
Terrorist financiers using crowdfunding and women’s bank accounts to conceal and move illicit funds - Newsy People
The Nigerian Financial Intelligence Unit (NFIU) has warned that terrorist financiers are increasingly exploiting women’s bank accounts, improperly registered phone numbers, coded transaction descriptions and crowdfunding platforms to move and conceal illicit funds in Nigeria. In its 2025 annual report, the NFIU identified what it described as emerging methods used to finance terrorist operations, including the use of accounts opened in the names…
Wives, Sisters’ Accounts Used to Move Terrorist Funds—NFIU
By Adedapo Adesanya The Nigerian Financial Intelligence Unit (NFIU) says terrorist financiers are opening bank accounts in women’s names and secretly using them to move illicit funds. NFIU, in its recently released 2025 Annual Report, stated that the tactic was among the emerging terrorist-financing methods identified in its analysis of financial crime trends for 2025. […]
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