NFIU Reveals Terrorists Exploit Women's Bank Accounts

The Nigerian Financial Intelligence Unit (NFIU) revealed in its 2025 annual report that terrorist financiers are using women's bank accounts and crowdfunding methods to facilitate the movement and concealment of illicit funds. The agency described a tactic known as "identity laundering," where accounts are opened in the names of women, such as wives and sisters, while male commanders or logistics managers maintain control over these accounts.

Many women may be unaware of the transactions occurring through their accounts. The NFIU noted that this practice exploits societal assumptions that women are less likely to attract scrutiny during financial investigations.

Additionally, the agency identified the use of improperly registered phone numbers and coded transaction descriptions as methods to obscure financial activities. The report also warned that crowdfunding campaigns and international remittance platforms could be misused to finance terrorist activities, with foreign facilitators presenting these campaigns as humanitarian or charitable appeals.