NFIU uncovers how terrorist financiers use women’s bank accounts, crowdfunding in operations

The Nigeria Financial Intelligence Unit (NFIU) has released its 2026 annual report detailing evolving methods used by terrorist and extremist groups to finance criminal operations. The findings highlight a shift toward the use of crowdfunding networks to solicit and aggregate funds for illicit activities.

According to the report, these financiers utilize women’s bank accounts to receive contributions, which are subsequently consolidated into master accounts. The funds are then divided into smaller payments and distributed through international money-transfer operators and remittance applications to a network of money mules operating within Nigeria.