“We thus see that, even if we as a nation keep ourselves within the relation of not doing anything to salvage the insecurity quagmires before us, many are diametrically reaping from it”
Foremost, Nigeria is confronted with grave security crisis threatening it’s cooperate existence. Understandably, the Nigerian society is getting more and more insecure, more people are getting into various forms of crimes and terrorism and they are getting more desperate, ruthless, and sophisticated.
Conversely, from the time when Nigeria got her independence, the act of terrorist activity lately have ranged from the Movement for the Emancipation of the Niger Delta (MEND) group, Oodua People Congress (OPC) group, Movement for Actualization of the Sovereign State of Biafra (MASSOB) group, Maitatsine group, Boko Haram, Islamic States in West African Province (ISWAP), Indigenous People of Biafra (IPOB), Herders Militias amongst other. Audaciously, the Nigerian state has had to contend against the overt and covert activities of foregoing mention terrorist elements having threatened the foundation of the country.
Plausible, terrorism upsurges of Boko Haram and ISWAP activities and especially their sponsors and financing question readily comes to minds. Terrorism in the north east today sail in enormity damage both on human and resources. Contemptible also is that terrorism hitherto put on the back foot of not only growing in alliances but recrudesced in tentacles and tactics. Terrorism is currently a primary challenge in Nigeria.
Arguably, before the coming of APC lead Buhari administration in May 29th, 2015.across, the country high scales crimes like cattle rusting, banditry, kidnapping and other surety challenges were confined to the northern part of the country. Equally also, there are skirmishes of armed robbery, kidnapping, ritual killing, rap case wave in the southern part.
Owing to the prevalence of the act of terrorism in Nigeria, numerous numbers of people have lost their lives on daily basis. In spite of the fact that government and the security agents claim to be on top of the matter, insecurity arising from terrorist actions still persists.
Nevertheless, the Nigerian state in its fights against terrorism did records some leaps. Consequently, terrorist and insurgents were decimated in territories under their controls in Borno, Yobe and Adamawa states, the north east epicenter of terrorism. Relative normalcy was restored and rebuilding process as being on going in throttle in most communities.wth the recent schools and houses in Chibok recently commissioned.
In the intervening time, the centrality of this article is on terrorism financing. Terrorism financing in recent time has cut global attention. As of today, especially as the world is counting the enormous destruction terrorism has melted on humanity. Terrorism financing is major threat to the fight against terrorism and insurgency in Nigeria. Terrorism financing colossal impact on the Nigerian state effort to tame terrorist groups such as Boko Haram and ISWAP has being diluted.
Accordingly, terrorism financing are illegal use of money to equip, train and remunerate terrorist members in furtherance of their agenda. Besides terrorism financing is found to be one of epicenter of Illegal Financial Flows (IFFs) phenomena. Just like IFFs, that are illegally earned, terrorism financing major sources is funds or proceeds that could be from corrupt activities, such as thief of public funds or looted funds, bribery, embezzled or diverted public funds. By the same token, also are proceeds from criminal activities like armed robbery, drug trafficking, arms selling, cross border smuggling, kidnapping, illegal taxation, ransoms from kidnapping, and free will donation from members and sympathizers inclusive.
The recent media reports revealing that Nigerian state has conducted a wide investigation leading to arrest of a number of people on ground for suspicious terrorism financing was alluring and estimable. Chiefly has terrorism as being at the heart of insecurity debacles. Moreso, that element of terrorism and insurgency gain road into the country and occupy ungoverned space of our territory.
Yet again, also is the media reports detailing 180 Bureau De Change (BDCS) operators paid N900 million penalties to the central bank of Nigeria (CBN) over there laid-back role dealing with Boko Haram and other criminals groups. Happy-go-lucky, in dealing with unknown customers. Irregular, has it may be the, BDCs members arrested are only to be released after paying the penalties of N5million each to CBN.
Quoting the BDCs association president “painfully, this is happening at the time that we are contending with sweeping generalization and criminalization of the activities of our members”
Albeit, it is of great concern that the Nigerian authority succeeded in this kind of operation leading to massive gathering, analysis of financial intelligence and drawing uplink analysis. This operation amount to arrest of suspects among members of BDCs operators ,gold miners and sellers and other business in Kano,Lagos,Sokoto,Adamawa,Kaduna and Zamfara states respectively.
Succinctly, terrorism financing in Nigeria is extremingly dangerous. Even with the recent death of Abubakar Shekau, the leader of a splintered group of the dreaded boko Haram. Whatever achievements the Nigerian state has recorded would be pattered into insignificance if it did not completely hampered terrorism financing.
For the reason that not only are we being confronted by terrorist groups that are updating, up taking and scaling up there operational stakes. There tentacle are not hidden, as they are battle ready with all sense of extremism tendencies to confront any nation in the Sahel region of Mali, Burkina Faso, Niger republic, Chad and Cameroun.
Be that as it may, the significances of clamping down on every sources of terrorism financing in Nigeria should not be overshadowed by Nigeria state complacency and political will in managing state affairs.
Flowing from the above is the conviction that it must be made clear, the requirement at the heart of fighting terrorism is to grasp the core about terrorism financing
Adefolarin A. Olamilekan is a Political Economist and Development Researcher. He can be reached on adefolarin77@gmail.com or 08073814436, 08107407870
