How terrorists use dead persons’ accounts, raise funds through social media donations– NFIU

Nigeria’s Financial Intelligence Unit has uncovered an elaborate terrorist financing network exploiting social media crowdfunding, women’s bank accounts and SIM cards registered to deceased persons to channel funds to terrorist operatives, according to the agency’s 2025 Annual Report obtained by The PUNCH.

The NFIU revealed that foreign-based facilitators solicit donations of $50–$500 through PayPal and conventional accounts under the guise of humanitarian relief, deliberately keeping amounts below anti-money laundering alert thresholds before pooling funds and fragmenting transfers through international remittance platforms to Nigerian money mules.

The agency also identified terrorists opening bank accounts in women’s names — exploiting cultural norms — while male commanders secretly control the accounts using ATM cards and mobile banking credentials.