Terrorists hide funds in women’s bank accounts – NFIU

…Men secretly control ATM cards, PINs, mobile banking credentials, use wives, sisters as fronts …Dead persons’ SIMs, proxy identities used to break financial trail …ISWAP cells operate ‘like shadow states’, use coded transactions — Report By Luminous Jannamike ABUJA – Terrorist financiers are opening bank accounts in w

The funds would then be consolidated in a master account before being split into smaller payments and transferred through international money-transfer operators and remittance applications to a network of Nigerian money mules.

Banks dominate NFIU suspicious reports, accounting for 92% of all filings in 2025. Discover the latest trends in financial crime reporting in Nigeria.