…the weapons and motorcycles procurement network, tactics and the cartel
By Our Correspondents
A new dimension to banditry financing in Katsina State and other parts of Nigeria has emerged with revelations on how terror funds are allegedly laundered through Point of Sale, POS, terminals in Matazu Local Government Area of the state.
According to information obtained from security sources and local informants, a man identified simply as Isiyaku is alleged to be operating as the financial expert for a notorious terrorists group operating in the area.
His alleged role is money laundering, cleaning raw ransom cash collected from victims of kidnapping and other criminal activities through POS terminals that he operates as a legitimate business in town.
Sources said his biggest client is a wanted terrorist leader identified as Kachalla Muhammadu, his middleman is a man named Salmanu, while the final recipient of the laundered funds is one Sani.
Giving insight into how the alleged operation works, sources said every day, Salmanu delivers an average of three (3) to five (5) million Naira in cash to Isiyaku.
Isiyaku, who operates POS terminals in the town centre, then allegedly uses that cash to run legitimate POS transactions with local traders in town, thereby turning dirty physical cash into clean digital numbers in the bank.
Once the process is completed, he takes his commission and transfers the remaining funds to the bank account of Sani.
Sani, according to the report, then allegedly uses the clean money to buy guns, ammunition, and motorcycles for Kachalla Muhammadu, or to run other operational errands for the cartel.
“This shows you exactly how complex and structured this terror network really is,” a security source who is familiar with the investigation said.
The source added that it would not be surprising to see the same suspect sitting in town joining ordinary people to condemn terrorists and even praying against them in public, all while allegedly laundering millions for them behind closed doors.
The revelation has once again brought to the fore the argument that terrorism and banditry do not survive on guns and bullets alone, but thrive on the quiet complicity of enablers within mainstream society.
Security analysts say when a local merchant can seamlessly integrate terror money into everyday commerce under the cover of civic normalcy, the line between victim and collaborator disappears, making the fight against insecurity more difficult.
“Until we target the financial pipelines and hypocritical enablers sitting comfortably inside our towns, we are merely fighting the branches of insecurity while watering its roots,” said an ‘insider’ analyst who did not want his name mentioned in this report.
The development comes at a time when security agencies in Katsina and other North-West states have intensified efforts to cut off logistics and financing for bandit groups through kinetic and non-kinetic operations.
Residents have called on the Katsina State Government, the Nigeria Police Force, and the military to investigate the allegations thoroughly and track financial transactions linked to POS operators in vulnerable local government areas.
They also urged the Central Bank of Nigeria and other financial regulators to strengthen monitoring of POS transactions, especially in high-risk areas, to prevent the system from being used as a conduit for ransom payments and illicit funds.
As at the time of filing this report, the Katsina State Police Command and the military authorities are yet to officially issue statements on the alleged money laundering network. However, security sources said investigations are ongoing to identify, arrest and prosecute all persons linked to bandit financing in the state.
