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IPOB raises $160,000 through monthly dues, crowdfunding – NFIU




The Nigerian Financial Intelligence Unit (NFIU) has disclosed that the Indigenous Peoples of Biafra (IPOB) raised over $160,000 through monthly dues and crowdfunding efforts.

This finding is part of the revelations in the NFIU’s “Counter Terrorism Financial Newsletter,” which highlights the sophisticated financial network of the IPOB, linked to 54 individuals around the globe.

A detailed investigation by the NFIU into the financial operations of the IPOB revealed that diaspora affiliates of the group are spread across 22 countries. The report identified 27 entities globally registered under the group’s name, with the highest number of registrations in the United States and the United Kingdom, having 7 and 6 respectively.

Several bank accounts in different countries were found to be receiving funds for various pretexts such as “Monthly Dues, Services, and for ESN” from numerous contributors. These funds are then directed towards various operations.

The NFIU document read:

A separate case highlighted by the NFIU involves the use of a betting platform for ransom transactions related to kidnapping. The case involves a betting platform reporting a suspicious transaction of a customer, a 24-year-old from the North-Central region of Nigeria. This individual received over N350,000 in his betting wallet, suspected to be a ransom paid by the relatives of a kidnapping victim.

The document noted:

The NFIU further urged law enforcement agencies to scrutinize transactions linked to known terrorists or financiers, unauthorized tax collections, or forced donations in areas vulnerable to terrorism.

Several areas of concern have been highlighted, including Bureau de Change (BDC) operators facilitating suspicious transfers and individuals involved in multiple cash deposits in bank accounts.

The agency also warns against the recruitment of individuals to open multiple bank accounts and financial transfers to charities linked to terrorism, emphasizing the need for rigorous investigation in these areas to effectively combat financial terrorism.