Friday, 4 July 2014

How Boko Haram Moves Cash Around Nigeria

Following the unabated terror attacks being perpetrated by the Islamic militant group, Boko Haram, across Nigeria, Reuters has published a report that explains how Boko Haram insurgents move cash around Nigeria.
According to the report, when the US imposed sanctions on Boko Haram leader Abubakar Shekau in June 2012, the terrorists leader dismissed it as an empty gesture.
It was gathered that two years later, Shekau’s skepticism appears well founded as the militant group is now the biggest security threat to Africa’s top oil producer, Nigeria.

The report stated that Boko Haram is now richer than ever, more violent and its abductions of women and children continue with impunity.
According to investigation carried out by Reuters, more than a dozen current and former U.S. officials who closely follow Boko Haram provide the most complete picture to date of how Boko Haram finances its activities.
Just as the United States, Nigeria and others in the international community struggle to track and choke off its funding.
It was gathered that central to the militant group’s approach includes using hard-to-track human couriers to move cash, relying on local funding sources and engaging in only limited financial relationships with other extremists groups.
The terrorists group is also said to have reaped millions from high-profile kidnappings.

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