Boko Haram, a Nigerian terrorist group, is increasingly dependent on cryptocurrency, mobile money and other digital tools to fund its businesses and transfer millions acquired through ransom, looting and “Zakat” contributions.
Observers call these digital finance methods “blind spots” in the fight against terrorism. Nigeria’s robust, economic needs-based, robust and unregulated crypto market misdirects this threat. Experts like Oge Samuel Okonkwo note that Boko Haram has benefited from the vast amount of Nigeria’s daily digital transactions due to its decentralized nature of Crypto, due to its low-cost operations, including weapons procurement. Group’s cross-border activities are also supported by Crypto’s easy digital transfer possibilities.
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