NFIU: Terrorist Groups Use Crowdfunding and Social Media to Move Funds in Nigeria
Terrorist groups are reportedly using crowdfunding platforms, social media, encrypted messaging apps and informal financial networks to raise and move funds in Nigeria, according to the NFIU’s 2026 annual report. The agency said foreign-based facilitators often disguise appeals as humanitarian or educational fundraising. Donations, commonly between $50 and $500, are pooled in master accounts before being broken into smaller transfers and sent through remittance services to money mules in Nigeria. The report said students, small-business owners, relatives and women may be used as fronts for accounts controlled by male operatives. Funds are allegedly converted to cash or used to buy logistics items such as motorcycles, fertiliser and satellite internet equipment. The NFIU also warned that unregistered or falsely registered SIM cards, coded transaction descriptions, weak fintech onboarding and digital fraud are making it harder to trace illicit funds and disrupt terrorist financing.
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