Terrorism networks in Nigeria have gone underground, and the money trail is now buried behind familiar faces and invisible phone lines.
In its 2025 Annual Report, the Nigeria Financial Intelligence Unit (NFIU) raised the alarm over chilling new tactics being used to move dirty cash, turning everyday banking tools into weapons of concealment.
Women turned into financial fronts
The NFIU says financiers are now opening bank accounts in the names of women while male commanders pull the strings from the shadows.
Wives, sisters and female associates are listed as account holders, but the ATM cards, mobile banking apps and PINs remain with the men giving orders.
The ploy, the agency notes, exploits a dangerous assumption: that women are less likely to be flagged in financial investigations. What looks like a routine transfer from “Aisha” or “Fatima” could be logistics money for an attack.
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Ghost numbers and coded transfers
Beyond names, the financiers are erasing digital footprints. They are using unregistered phone numbers to open wallets and receive payments, making it nearly impossible to trace ownership.
Transaction descriptions have also gone cryptic. Instead of clear notes, investigators are finding coded words that mask the true purpose of transfers through ordinary banks and digital payment platforms.
Crowd-funding terror from abroad
The report adds another layer: international crowd-funding networks. Funds are being pooled overseas in small donations, then funneled into Nigeria through these disguised channels.
The NFIU warned that the shift to everyday banking and digital tools is deliberate, designed to blur lines and slow down security agencies chasing the real controllers of the money.
The message is blunt. The war on terror financing has moved into homes, phones and comment sections.
