Military Disrupts Terrorist Funding Networks in Nigeria

On September 7, 2023, Gen. Christopher Musa (retd.), Nigeria's Minister of Defence, revealed that the Nigerian military, in partnership with intelligence and security agencies, has successfully disrupted the financial networks supporting terrorist groups such as Boko Haram and the Islamic State West Africa Province (ISWAP). This collaboration has significantly diminished the terrorists' ability to conduct large-scale attacks, compelling them to engage in abductions and kidnappings as alternative funding sources.

Musa highlighted efforts to block proxy bank accounts, social media crowdfunding, and cryptocurrency transactions. The Federal Government is also working with the United States Department of State on international counter-terrorism financing.

Additionally, measures include cutting off supplies of fuel, food, and water to terrorist networks. Musa noted a decrease in brazen attacks, attributing the recent rise in security incidents to political cycles, particularly with the upcoming 2027 general elections.