The Federal Government of Nigeria has announced the unveiling of an alleged terrorism financing network.
The Nigerian Financial Intelligence Unit (NFIU) identified 15 entities which include nine individuals and six Bureau De Change (BDC) operators and firms involved in financing terror activities.
The details were revealed in a statement released by the NFIU recently, titled “Designation of Individuals and Entities for March 18, 2024.” The statement outlined plans for sanctions against the accused.
The document stated that the Nigeria Sanctions Committee met on March 18, 2024, where specific individuals and entities were recommended for sanction after their involvement in terrorism financing.
Part of the document read: “The Honourable Attorney General of the Federation, with the approval of the President, has thereupon designated the following individuals and entities to be listed on the Nigeria Sanctions List.”
One of the identified individuals is Kaduna-based publisher Tukur Mamu. Mamu is currently on trial for allegedly aiding the terrorists responsible for the Abuja-Kaduna train attack in March 2022.
The document stated that Mamu “participated in the financing of terrorism by receiving and delivering ransom payments over the sum of $200,000 US in support of ISWAP terrorists for the release of hostages of the Abuja-Kaduna train attack.”
According to the document, one of the individuals is “the suspected attacker of the St. Francis Catholic Church Owo, Ondo State on June 5, 2022 and the Kuje Correctional Center, Abuja on July 5, 2022.”
Another individual was described as “a member of the terrorist group Ansarul Muslimina Fi Biladissudam, the group is associated with Al-Qaeda in the Islamic Maghreb.
“The subject was trained and served under Muktar Belmokhtar, aka One Eyed Out, led Al-Murabtoun Katibat of AQIM in Algeria and Mali.”
Also, another individual was identified as “a senior commander of the Islamic State of West Africa Province Okene”, who “came into the limelight in 2012 as North Central wing of Boko Haram.
Another identified individual was described as “a financial courier to ISWAP Okene. She is responsible for the disbursement of funds to the widows/wives of the terrorist fighters of the group.”
According to the document, another of individual “in 2015, transferred N60m to terrorism convicts.”
The individual “received a sum of N189m between 2016 and 2018” and “own entities and business reported in the UAE court judgment as facilitating the transfer of terrorist funds from Dubai to Nigeria.”
Another identified individual was said to have “received a total of N57m from between 2014 and 2017”, while another was said to have “had a total inflow of N61.4 bn and a total outflow of N51.7bn from his accounts.”
The document revealed further that, in accordance with Section 54 of the Terrorism (Prevention and Prohibition) Act, 2022, institutions and individuals are required to:
“(a) immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons and entities in your possession and report same to the Sanctions Committee;
“(b) report to the Sanctions Committee any assets frozen or actions taken in compliance with the prohibition requirements.
“(c) immediately file a Suspicious Transactions Report to the NFIU for further analysis on the financial activities of such an individual or entity; and
“(d) report as a Suspicious Transactions Report to the NFIU, all cases of name matching in financial transactions prior to or after receipt of this List. ”
The document said the “The freezing obligation required above shall extend to
“(a) all funds or other assets that are owned or controlled by the designated persons and entities, and not only those that are tied to a particular act, plot, or threat of terrorism or terrorism financing;
“(b) those funds or other assets that are wholly or jointly owned or controlled, directly or indirectly, by designated persons or entities;
“(c) the funds or other assets derived or generated from funds or other assets owned or controlled directly or indirectly by designated persons or entities; and
“(d) funds or other assets of persons and entities acting on behalf of, or at the direction of designated persons or entities.”
The announcement came amid ongoing security concerns in Nigeria. The country has encountered a long-standing struggle against Boko Haram and other terrorist groups.
The government feels identifying and sanctioning these financiers will affect their ability to fund operations.
