In an apparent bid to annihilate the providers of oxygen to terror groups in Nigeria the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, cautioned Non-Profit Organisations (NPOs) across the country to guard against infiltration by terrorist networks seeking to exploit the sector for financing acts of terrorism.
Olukoyede made the warning at the launch of the National Terrorist Financing Risk Assessment (NTFRA) for NPOs recently in Abuja. Speaking through his Chief of Staff, Michael Nzekwe, the anti-corruption czar acknowledged the critical role NPOs play in Nigeria’s socio-economic framework, from providing humanitarian aid to supporting education and healthcare.
“It is crucial to protect the integrity of this significant sector, not only to ensure national security but also to maintain public trust and confidence in the legitimate activities of charitable organisations,” Olukoyede said.
The EFCC chairman explained that the NTFRA will provide an evidence-based understanding of terrorist financing risks in the NPO sector and inform the development of appropriate regulatory and supervisory measures.
“Your cooperation, transparency, and contributions will be vital in ensuring that this risk assessment accurately reflects the realities of the sector and strengthens Nigeria’s overall anti-money laundering and counter-terrorist financing framework,” he added.
Senator Abubakar Baguda, Minister of Budget and Economic Planning, lauded the EFCC and the Special Control Unit Against Money Laundering for uniting civil society organisations through the initiative. He urged stakeholders to actively participate, emphasising that collaboration and knowledge sharing are key to fighting economic crimes.
“Your commitment to fostering transparency, accountability, and community involvement is admirable, and it is uplifting to witness civil society and government working together to enhance financial integrity in our country,” Baguda said.
Deputy Commander of the EFCC and SCUML Director, Harry Erin, noted that the NTFRA would allow Nigeria to reassess the terrorism financing risk profile of the NPO sector since the last evaluation in 2023, and refine the risk-based supervisory framework in line with current realities.
“This assessment will help address emerging risks while acknowledging the significant progress NPOs have made since the previous evaluation,” Erin said.
The EFCC called for the active involvement of all stakeholders to ensure the assessment reflects the realities of the sector and strengthens Nigeria’s efforts to combat money laundering and terrorist financing.
Olukoyede’s warning could not have been more timely given the resurgence and intensity of terror attacks in the country, particularly the Boko Haram insurgency in the North-east. In a seeming reaction to the warning and NFRA initiative by the EFCC, the Boko Haram/ISWAP terror terrorists carried out multiple bomb explosions in Maiduguri, the Borno state capital, on Monday, March 16, 2026, barely a week after the NFRA launch. Over 23 people were killed and 103 injured by the explosions.
| It is instructive that the A United States congressman, Scott Perry, had in 2025 accused the United States Agency for International Development (USAID) of financing terror groups like Islamic State and al-Qaeda including their local affiliates such as Boko Haram. |
Perry said the USAID’s annual budget of $697 million including cash shipments to madrasas (Islamic schools), has inadvertently funded terrorist training camps and extremist groups.
Despite the suspension of USAID funding by the Trump administration the terrorist operations, rather than abate, have become more lethal and intensive in Nigeria. The federal government has been grappling with the war on terrorism on many fronts. In the North-east, soldiers continue to fight against insurgents including Boko Haram and its breakaway faction, the Islamic State West Africa Province (ISWAP).
The insurgency in the zone is now entering two decades with no hope of its ending soon. Analysts and top military officers said the insurgency lingers on for many reasons, including external funding.
Both Boko Haram and ISWAP have received funding from Islamic State. But since the schism that rocked the movement in 2016, Boko Haram has been left to source its funds through taxation and violent raids on villages. Even though ISWAP still enjoys external funding, it continues to impose taxes on civilians living in their strongholds.
In 2020, a court in the United Arab Emirates (UAE) convicted six Nigerians for funding Boko Haram. This conviction has helped the Nigerian government to track other people and businesses linked to these individuals.
ISWAP has attacked more than six military camps, killing senior officers and soldiers. In an unusual joint operation, Boko Haram and ISWAP attacked Ngoshe, killed scores and abducted over 100. While the abductees still remain in captivity, the military has recaptured the village last week.
It is against the backdrop of this sordid situation that Blueprint lauds the launch of NTFRA by the EFCC. The framework of its operations is quite apt as it would help to safeguard the integrity of NPOs, many of whom have lost the confidence of Nigerians due to their covert operations.
The NPOs should be made to be transparent and accountable to their sponsors and their host countries with respect to upholding national interest and security. They should concentrate on their core mandate in providing humanitarian and philanthropic services and operate within the ambit of the law establishing them.