The disclosure is contained in the NFIU’s 2025 Annual Report, which highlights growing concerns over the use of digital platforms, proxy bank accounts and weak links between financial identities and mobile phone registrations in terrorism financing.
According to the report, foreign-based facilitators are using social media to solicit donations under the guise of humanitarian assistance or educational support. The campaigns reportedly encourage hundreds of sympathisers to make relatively small contributions, typically between $50 and $500.
The NFIU said keeping the individual payments relatively low can help the transactions avoid automated anti-money laundering alerts. Funds are subsequently pooled into accounts controlled by senior members of the network before being broken into smaller transfers and moved through international money transfer operators and remittance applications.
Some of the money reportedly ends up with individuals in Nigeria who serve as intermediaries or money mules. The agency identified students, small-business owners and relatives among people allegedly used in such networks.
The funds may then be converted to cash or used to acquire items with both legitimate and potential operational uses, including motorcycles, fertilisers and satellite internet equipment, before being moved further through mobile banking channels.
Beyond crowdfunding, the NFIU identified the use of proxy accounts opened in the names of women, including wives, sisters and other associates. In some cases, the agency said, male commanders or logistics managers allegedly maintain control of the accounts through banking credentials.
The report also raised concerns about telephone numbers used for mobile banking and transaction alerts that are not registered to the actual account holders or beneficiaries.
Of particular concern is the reported use of pre-registered SIM cards and phone numbers linked to deceased persons. According to the NFIU, such practices can weaken the connection between a bank account, its registered owner and the person actually controlling the funds, making financial investigations more difficult.
The findings underline the increasing sophistication of terrorism financing networks and the challenges facing financial institutions and security agencies as criminals exploit digital payments, crowdfunding and identity gaps.
The NFIU has previously issued guidance on the risks associated with unregulated crowdfunding, including the possibility of funds being diverted to terrorism financing.