A sprawling, multi-billion-naira network allegedly bankrolling Boko Haram, involving 20 Nigerians, major businesses, and three foreign nationals, has been exposed, revealing a hidden web of finance stretching across four countries.
A massive investigation by SaharaReporters has peeled back the curtain on a deeply entrenched network of 23 individuals suspected of pouring billions into Boko Haram through shadowy transactions, covert networks, and international money transfers.
The network, with financial tentacles linking Kano, Dubai, South Africa, Rwanda, and Niger, echoes operations previously described in multiple UAE court judgments and Nigerian security reports. Worryingly, many of the Nigerian suspects were reportedly arrested in 2021 but later released, raising serious concerns about high-level interference.
💰 The Financial Fingerprint: Billions Moved in Plain Sight
The investigation tracked an intricate financial web involving hundreds of bank accounts, billions moved through cash deposits, and cross-border remittances. Key suspects are directly linked to:
Weapons procurement chains (including an internationally identified commodity firm).
Bureau de change (BDC) operators.
Convicted Boko Haram financiers who are currently serving jail terms in the UAE.
👤 The Core Nigerian Financiers: The Billion-Naira Club
The exposed list features individuals who managed staggering sums, often acting as a bridge between official commerce and terror funding.
| Suspect Name | Key Role/Transaction Detail |
| Usaini Adamu (Baba Hussaini) | Kano businessman with 111 accounts; moved over ₦43 Billion; guaranteed accounts for convicts. |
| Muhammad Sani Adam | Forex/precious stones dealer with 41 accounts; processed ₦54.1 Billion linked to terror convicts. |
| Abubakar Adamu Yellow | Moved ₦61.4 Billion through 42 accounts; sent tens of millions to known Boko Haram convicts. |
| Yusuf Ghazali | Forex trader controlling a staggering 385 accounts; named in UAE court rulings for moving Boko Haram funds. |
| Alhaji Saidu Ahmed | Zaria businessman; core financier linked to multiple convicts; accounts recorded ₦4.8 Billion in inflows. |
| Nurudeen Gani Aliyu | Sokoto BDC operator with 218 accounts; facilitated transfers to a firm tied to weapons procurement. |
| Ladan Ibrahim | Public servant (Sokoto Pilgrims Welfare Agency Chairman); allegedly moved government-linked funds to financiers. |
🌍 The International Conduit: From Rwanda to Niger
The investigation also identified three non-Nigerians crucial to the pipeline:
Tribert Rujugiro Ayabatwa (Late): Rwandan tobacco magnate whose 70 accounts saw ₦67 Billion in inflows, with funds flowing to Boko Haram affiliates in South Africa.
Paul Nkwaya: Son of Ayabatwa and co-owner of Leaf Tobacco & Commodities, a firm tied to weapons procurement for terrorists.
Aboubacar Hima (Petit): A notorious Nigerien arms dealer who allegedly facilitated over $1.19 million in UAE-to-Nigeria transfers for terror associates.
❓ WHAT IS YOUR REACTION?
Given the magnitude of the money and the known risks, why do you think these suspected terror financiers were reportedly released after their 2021 arrests? What should be the immediate action taken now that this list is public?
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