Terrorism Financing in Nigeria: Its Roots, Impacts, and Possible Reforms


  • Oluebube Christopher Offor Price Waterhouse Coopers (PwC), Lagos, Nigeria




Terrorism, Terrorism financing, Illicit financial flows, Boko Haram, Nigeria


The threat of terrorism financing has left a trail of violence and conflict in Africa which prevents countries like Nigeria from meeting important goals such as the United Nations Sustainable Development Goals and the African Union Agenda 2063. There is an urgent need for action to address the challenges that this threat represents to the fragile stability of Nigeria. This paper uses data from local and international journals, investigative reports, online newspapers, government publications, and conference articles, to describe the problematic and endemic nature of terrorism financing in Nigeria. The paper further evaluates the magnitudes of terrorist funding and its impacts on people's socio-economic conditions. The research indicates that weak borders – particularly in the northern region of Nigeria – along with religious bigotry, poor governance, and high unemployment and poverty rates are some of the key enablers of terrorism financing. To bring the problem under control, the paper suggests that building close collaboration with neighboring countries, overhauling security intelligence, resolving people's socio-economic crises, embracing innovations informed by research and development, and strengthening counter-terrorism policies are central to curtailing the outrage of terrorism financing in Nigeria.

Author Biography

Oluebube Christopher Offor, Price Waterhouse Coopers (PwC), Lagos, Nigeria

Oluebube Christopher Offor is an audit associate at PriceWaterhouseCoopers (PwC) Lagos, Nigeria. The first draft of this paper won second place in the 8th Amartya Sen Essay Prize and was presented at Yale University’s 2021 annual Global Justice Program Conference. The author thanks Kieran Donaghue, Adam R. Pearlman, and Thomas Pogge for their invaluable comments and revision suggestions. The author is deeply grateful to Global Financial Integrity for generous funding in support of the completion and revision of this piece. No conflict of interest is declared




How to Cite

Offor, O. C. (2022). Terrorism Financing in Nigeria: Its Roots, Impacts, and Possible Reforms. Journal of Academics Stand Against Poverty, 2(1), 16–34. https://doi.org/10.5281/zenodo.8103758