The Nigerian Financial Intelligence Unit (NFIU) has disclosed that terrorists and extremist groups are using the SIM cards of deceased persons to raise illicit funds for their criminal activities.
The disclosure was contained in the agency’s 2026 Annual Report released on Monday.
The NFIU also revealed that terrorist financiers were opening bank accounts in women’s names and using phone numbers for mobile banking and account alerts that were not registered to the account holders or actual beneficiaries.
According to the report, the groups were also using crowdfunding schemes involving foreign-based facilitators who solicited donations through social media platforms under the guise of humanitarian relief or educational support.
The funds were subsequently moved through multiple layers before reaching terrorist operatives in Nigeria.
The report stated that hundreds of sympathisers were encouraged to contribute between $50 and $500 through PayPal pages or conventional bank accounts, with the relatively small amounts designed to avoid triggering automated anti-money laundering alerts.
The NFIU said foreign-based facilitators operated social media campaigns seeking donations for purported humanitarian and educational causes, while encrypted messaging applications were used to distribute links to payment pages and bank accounts.
The agency added that the funds were pooled in master accounts controlled by senior members of the groups who were legally resident abroad.
“Terrorists are now using dead people’s SIM cards to raise funds. When the pool reaches a threshold, that account becomes the hub for onward movement.
“The funds would subsequently be fragmented into dozens of smaller payments and transferred through International Money Transfer Operators and remittance applications to a network of money mules in Nigeria,” the report stated.
The NFIU is responsible for collecting and analysing financial disclosures from reporting organisations and producing intelligence for agencies involved in combating money laundering, terrorism financing and other financial crimes.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
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