EXPOSED: Boko Haram’s Sources Of Funds

Following the unabated acts of terrorism perpetrated by the Islamic religious sect, Yusufiyya – which later became Boko Haram, since 2009, many questions have been asked by Nigerians and the international communities.


Prominent among these questions is how the militant group is raising funds to procure sophisticated weapons which they use to carry out their heinous attacks across Nigeria?

However, Premium Times reports that since 2009, the deadly sect has continued to deploy various tactics to sustain its resolve in undermining the Nigerian state.

It was gathered that in the onset, the sect began to embark on selective killings and maiming of politicians and security agencies.

Later on, according to the report, the terror group acquired the know-how on how to make Improvised Explosive Devices, IEDs, which it used mostly on security operatives, security formations and churches within and around Borno State.

In a bid to “promote the Jihad of God,” as they claim, the Islamist sect went from terror attack to attacking banks and other financial institutions, as well as the robbery of bullion vans in which millions of Naira were at different occasions stolen.

Between 2010 and 2012, the group resorted to extorting high personalities in Nigeria by sending text messages with threats on their lives if millions of Naira were not delivered to them at a designated rendezvous or harassing their victims by dropping sealed threat letters with a piece of live bullet asking for money.

When the presence of the Joint Task Force, JTF, continued to grow and increased development of counter intelligence by the Department of State Security, DSS, the Boko Haram sect resorted to kidnapping.


*Boko Haram attack in Jos

On January 30, 2012, the late spokesman of Boko Haram, Abul Qaqa had in a teleconference with journalists threatened that they would soon embark on abduction of spouses and children of security operatives and public office holders, for allegedly detaining their (Boko Haram) family members.

The terrorists did not start their threat until early this year, when the sect embarked on a ransom-driven kidnap of civilians. Most of their targets often gained their freedom after the payment of huge money by either government or relatives of the captives.


* File photo of Boko Haram attack at Nyanya garage in Abuja

The spokesman of JTF, Sagir Musa, on April 28, issued a caveat warning to residents of Maiduguri and environs that the Boko Haram had resort to kidnapping prominent citizen with the aim of getting money from their relatives.

Mr. Musa’s statement read, “Intelligence available to the Task Force has indicated that Boko Haram Terrorists have resolved to concentrate more on kidnappings than robbery. They alleged that kidnapping is more lucrative, less dangerous and requires short time to plan and execute. Similarly, a special kidnapping squad has been earmarked and tasked by the Boko Haram sect to kidnap persons who could be wealthy relations, politicians, business women/ men, traditional rulers, senior civil servants and foreigners alike.”


* Leader of Boko Haram, Abubakar Shekau (in the middle)

The above statement was made after the Boko Haram sect had carried out several successful kidnaps for ransom.

Prominent personalities in Nigeria and many other people, private civilians, are believed to have been kidnapped by the militants and likely paid heavy ransoms to gain their freedom without anyone knowing. While those who could not afford such heavy ransoms are alleged to have been killed.

The belief in security circles in Borno is that the sect increased its kidnap activities to fund its various violent operations across Northern Nigeria.

Many had hoped and are still hoping that the declaration of a State of Emergency in Borno and the subsequent massive deployment of troops there would halt the kidnap and other criminal activities of the sect.

Source: Premium Times


  1. It is not true that funds from kidnapping could have sustained the sect up till now.There are unseen hands within and outside Nigeria that are believed to be supplying weapons,training on manufacture of IEDs funding for food,provision of hellicopters and donation of cash.

  2. I doubt so much that funds from relatives of the kidnaped relatives can sustain Boko Boyz up to now. Something funny is going on, we keep on praying.

  3. Why is information Nigeria decide to be feeding nigeria lies and deception ? How much are the been paid in kidnapping ? Where the paid to publish this and use it as a means diverting the attention of million Nigerians from the original sponsors of this beast in human form ? This is mis information we know some one is sponsoring them

  4. Rediculious word it is what I can call this generation of ours,which most of our now re day politician hav an better time of this nation when they re @ our age as adult,which our first nigeria leaders does well likes of tafawa balewa,azikiwe Ango ironsi,Gowon,muritala,re well serve this nation,but todays leaders re no 1 mass enemies they set to kill all citizen jst for them to get @ the top,they re the 1 who suppotr and finance so call boko haram,hw can them hav such weapones as that and been thinking the cash source is from robbinh aand current kidnapping output common not is hidding anymore all 9ja knew it’s cause from our politician/prominent ppl in this nation,no matter hw long u stay on this earth every1 most die!u shall die ahead of we youth,what re we going to say about u all after ur grave!think 9ja politicians.

  5. Well written, but am pretty certain the write up is just a personal opinion of the writter! The sources of funding mentioned is inadequate to sustain Boko Haram activities, truth is that sponsors are within and outside the country and our leaders know but keep quit because of fear for their lives.

  6. Which rubbish info be this? U said ‘EXPOSED’ do u knw wat it means to expose? u were only guessin not EXPOSING. The sponsors are our ‘POLITICIAN’, in specific the ‘NORTHERN POLITICIAN’ they are the one sponsorin those uncircumcised hudloms. Please Nja info, go straight to the point and tell 9ja the real story. EXPOSE those wicked POLITICIANS.

  7. Lie! Blatant lie! Are you saying they are not sponsored? Kidnaping is not ano investment. So it couldnt have sustained them thus far. They are not always succeeding. The loose members and properties too. Besides the use to attack with more surfisticated weapons than what the govt. Security agencies have.

  8. Big lie! Big lie! The writer is just making things up, we all know that BH has sponsor but time will tell alleast there is no Sun in the day and Moon in the night… And if GOD is not GOD.

  9. How many people are the kidnapped and how much are the collect from each of them compair to the total amount of the wepons the have


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