Boko Haram: Coffers and Coffins; A Pandora's Box - the Vast Financing Options for Boko Haram

Numerous, Well Diversified, and Wide VarietyHow can Boko Haram afford to abduct 276 teenage girls? Boko Haram has a wide variety of outlets for its fundraising activity.  Its success in sustaining attacks depends on a well-oiled financial pipeline. Like many other AQ franchises, Boko Haram collaborates with organized crime syndicates for its operations in drug trafficking, kidnappings, bank robbery, and cyber scams, not to mention continuous theft from Nigeria’s security establishment. In addition, Boko Haram raids rural towns and villages; by terrorizing civilians, they can implement random taxes at anytime to quickly fill depleted coffers. During 2014 Boko Haram raided over 40 villages with an estimated 2,000 casualties; many of the villiages were burned to the ground. These diverse sources have reportedly secured an income for Boko Haram of approximately $70million (N11 billion) between 2006 and 2011.For More on Boko Haram’s Funding OperationsFor More…

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