The Economic and Financial Crimes Commission (EFCC) is set to file charges against a suspect and two companies linked to the Islamic State of Iraq and Syria (ISIS) as part of an ongoing crackdown on terrorism financing in Nigeria.

The development comes amid renewed collaboration between Nigerian authorities and the United States to disrupt financial networks linked to terrorist organisations.

A top EFCC source said the impending charges stem from intelligence and investigations jointly conducted by Nigerian security agencies and their international partners.

“The EFCC will soon file charges against a suspect and three companies linked with ISIS in the country. This is already concluded,” the source said.

The source added that the information recently disclosed by the United States was already known to Nigerian intelligence agencies.

Head of Media and Publicity of the EFCC, Dele Oyewale, confirmed that the Commission had concluded preparations to prosecute suspects linked to ISIS and terrorism financing.

The anti-graft agency is also preparing to arraign Bello Abdullahi Bodejo before the Federal High Court in Abuja over allegations of terrorism financing and money laundering involving $2.53 million. Bodejo is of the Miyetti Allah Kautal Hore.

According to a statement by the EFCC, the Commission filed a 12-count charge against Bodejo on June 22, accusing him of receiving and possessing large sums of foreign currency allegedly linked to proceeds of unlawful activities in violation of the Money Laundering (Prevention and Prohibition) laws.

Bodejo is expected to take his plea in the coming days.

Court documents show that one of the charges alleges that Bodejo accepted $100,000 in cash from former Bauchi State Accountant-General Sa’idu Abubakar on January 11, 2022, without routing the transaction through a financial institution as required by law.

The prosecution claims the amount exceeded the statutory threshold for cash transactions.

Another count alleges that he received $200,000 in cash from the same source on January 21, 2022, under similar circumstances.

The EFCC further alleged that Bodejo received an additional $500,000 on March 20, 2024, and $980,000 on February 7, 2024, both in physical cash and above the legal threshold permitted under the Money Laundering (Prevention and Prohibition) Act, 2022.

According to the charge, Bodejo also allegedly took possession of $980,000 under circumstances in which he knew, or reasonably ought to have known, that the funds were proceeds of unlawful activities.

The alleged offences are punishable under various provisions of the Money Laundering (Prohibition) Act, 2011, as amended, and the Money Laundering (Prevention and Prohibition) Act, 2022.

The Federal Government reiterated that terrorists and their financiers will find no haven in Nigeria’s financial system.

In a statement issued through the Nigerian Financial Intelligence Unit (NFIU), the Nigeria Sanctions Committee (NSC) welcomed sanctions imposed by the United States Office of Foreign Assets Control (OFAC) on Nigerian businessman Mukthar Muhammad Adamu and two Bureau de Change operators – Nine to Nine BDC Limited and Generation Currency BDC Limited – over alleged terrorism financing.

The committee noted that the affected individuals and firms had already been placed on Nigeria’s sanctions list on June 18, following months of intelligence gathering, financial investigations and inter-agency assessments.

According to the committee, investigations established reasonable grounds to believe that the listed persons and entities facilitated, financed or otherwise supported the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.

Others listed include Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman and Babangida Muhammed Adamu Hammajam, as well as Abbal Bako and Sons Bureau De Change Limited.

The committee described the U.S. action as evidence of growing international cooperation in the fight against terrorism financing and said it would strengthen efforts to deny terrorist groups access to the global financial system.

It directed banks, other financial institutions and designated non-financial businesses to comply fully with sanctions obligations, including freezing assets linked to listed persons and entities, filing Suspicious Transaction Reports and reporting relevant matches to the appropriate authorities.

The committee also commended the Federal Ministry of Justice, the Office of the National Security Adviser, the Central Bank of Nigeria, the Department of State Services, the EFCC and the NFIU for their roles in investigating and disrupting financial networks linked to terrorism.

Reaffirming the government’s commitment to combating terrorism financing, the committee said Nigeria would continue to work with local and international partners to strengthen financial integrity and prevent terrorist organisations from accessing resources needed to sustain their operations. (The Nation)