The Federal Government in 2024 identified 15 individuals and business entities linked to terrorism financing networks operating within and outside Nigeria.
The list, compiled during an inter-agency security review, includes nine individuals and six business organisations accused of facilitating the movement of funds, logistics and resources for terrorist groups.
According to the report, the individuals designated are: Tukur Mamu, Yusuf Ghazali, Muhammad Sani, Abubakar Muhammad, Sallamudeen Hassan, Adamu Ishak, Hassana-Oyiza Isah, Abdulkareem Musa and Umar Abdullahi.
The government also flagged six business entities including Bureau De Change (BDC) operators and trading companies for allegedly enabling financial transactions that supported terrorism-linked activities.
The firms listed are: West & East Africa General Trading Company Limited, Settings Bureau De Change Ltd, G. Side General Enterprises, Desert Exchange Ventures Ltd, Eagle Square General Trading Company Limited, and Alfa Exchange BDC.
Security officials familiar with the findings said the designations followed months of intelligence tracking, analysis of financial flows, and collaboration with international partners.
They explained that the move formed part of a broader effort to disrupt terrorism financing channels, strengthen compliance within Nigeria’s financial system, and support ongoing military operations against insurgent groups.
The Federal Government had earlier assured that investigations into terrorism financing would continue, with additional names expected to be reviewed as security agencies intensify monitoring of financial institutions, BDC operations and cross-border cash movements.
Zagazola reports that Nigeria has, in recent years, expanded its counter-terrorism architecture to address financial enablers, logistics networks and covert channels that sustain extremist organisations across the Lake Chad Basin and the North West.
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