Nigerian terrorist group Boko Haram is increasingly relying on cryptocurrencies, mobile money, and other digital tools to fund its operations, transferring millions acquired through ransoms, looting, and extorted “zakat” donations.
Observers call these digital financing methods a “blind spot” in the fight against terrorism. Nigeria’s robust and largely unregulated crypto market, driven by economic necessity, inadvertently facilitates this threat. Experts like Oge Samuel Okonkwo note that Boko Haram leverages crypto’s decentralized nature for low-cost operations, including weapons procurement, and benefits from the sheer volume of daily digital transactions in Nigeria. The group’s cross-border activities are also aided by crypto’s easy digital transferability.
