Shocking details have emerged exposing the network of Boko Haram financiers, involving 23 suspects and billions of Naira.

Fresh details have emerged blowing the lid off a massive financing network allegedly fueling Boko Haram’s operations. An exclusive investigation by SaharaReporters has unmasked about 20 Nigerian nationals and three international players believed to be the money bags behind the terror group.

What is even more disturbing is that these suspects were reportedly arrested by Nigerian authorities back in 2021 but were quietly released under circumstances that remain very cloudy.

The leaked data exposes everything—from their personal biodata to dizzying bank transactions that link them to convicted terrorists and international arms deals.

The Nigerian Heavyweights

1. Alhaji Saidu Ahmed (The Zaria Connection)

Based in Zaria, Kaduna State, Alhaji Saidu (aka "Gold") is a major figure in this puzzle. Born in 1961, his accounts saw a staggering N4.8 billion inflow. Investigators believe he is a primary financier, with cash frequently moved to convicts identified in UAE court papers.

2. Usaini Adamu (The Guarantor)

Operating out of Kano, this businessman is a heavy hitter. With over 111 accounts across nine banks, his transaction volume is eye-watering—over N43 billion came in, and N50 billion went out. He allegedly guaranteed accounts for known convicts and helped move logistics for terror ops.

3. Muhammad Sani Adam

A dealer in forex and precious stones, Sani operates between Kano and Yola. He is considered Alhaji Saidu’s right-hand man. His 41 bank accounts moved over N54 billion, with funds flowing directly to and from convicted individuals.

4. Abubakar Adamu Yellow

Known as "Yellow Amfani," this Kano businessman allegedly moved tens of millions to Alhaji Saidu’s circle between 2014 and 2019. His total financial footprint over the years exceeds N60 billion.

5. Murtala Abdullahi Jega

A Bureau de Change (BDC) operator in Kano, Jega allegedly used his 94 bank accounts to funnel money for weapons procurement. He reportedly received N60 million from a convict, Bashir Ali Yusuf, linking him deep into the arms supply chain.

6. Sadiq Garba Abubakar

Trading in Kano and Abuja, Sadiq is a central piece of the puzzle. He is accused of sending over N1.65 billion to convict Surajo Abubakar Muhammad. He appears to be a key engine in keeping the cash flowing to the insurgents.

The Middlemen and Facilitators

7. Hussaini Adamu

Another Kano-based businessman, Hussaini’s role was crucial. He allegedly moved billions of Naira, acting as a bridge to circulate funds within the convicts' network.

8. Mustapha Ibrahim Yakubu

Splitting his time between Wuse and Kano, Mustapha’s accounts show transfers of N2 billion to a company called Bahafs Global. He is suspected of handling logistics and arms support for the sect.

9. Ali Abdullahi Yusuf

The elder brother to two convicted individuals, Ali is based in Kano. His 43 bank accounts show he was busy doing business with Surajo Abubakar Muhammad and over 40 other associates linked to the terror group.

10. Nasiru Shuaibu

Operating from Gusau and Minna, Nasiru’s accounts received massive inflows, including a N5.4 billion transfer from fellow suspect Muhammad Sani.

11. Yusuf Ghazali

A forex trader with a shocking 385 accounts, Ghazali is named in UAE court judgments. He is accused of moving funds from Dubai back to Nigeria to support the cause.

The Ground Operatives

12. Mansur Muhammad Usman

A textile dealer in Kano, Mansur was flagged in the UAE as a money transfer agent. He reportedly recruited people for the sect and moved millions to support them.

13. Yazid Usman Muhammad

Also named in UAE courts, Yazid is a Kano businessman who allegedly acted as a transfer agent, receiving funds from Mansur Usman to keep the operation running.

14. Alhaji Musa Emma

Based in the heart of the insurgency, Maiduguri, Musa Emma’s accounts saw cash withdrawals of over N2.4 billion. Investigators see him as a central figure in laundering money right where the fighting happens.

15. Modu Sulum

Also in Maiduguri, Sulum keeps a low profile with just one BVN-linked account, but he is tightly connected to Musa Emma and the coordination of funds in Borno State.

16. Adamu Aliyu Kanoma

A jewellery dealer from Zamfara, Adamu withdrew over N10 billion in cash within four years. He dealt with over 20 associates of the key convicts.

17. Habibu Muhammad Usama

A Gusau businessman, Habibu moved huge cash volumes, withdrawing over N7 billion. He is accused of receiving money from convicts and sending funds to the ringleader, Alhaji Saidu.

18. Nurudeen Gani Aliyu (Alhaji Nura)

A big-time BDC operator in Sokoto with 218 accounts. He is alleged to be a major financier, moving money to "Leaf Tobacco & Commodities," a firm linked to weapons procurement.

19. Ladan Ibrahim

Shockingly, Ibrahim is a public servant—the chairman of the Sokoto Pilgrims Welfare Agency. He allegedly used his accounts to move funds to Alhaji Nura, mixing public service with terror funding.

The International Connection

20. Tribert Rujugiro Ayabatwa

A Rwandan tobacco tycoon who passed away in April 2024. Before his death, he allegedly used his 70 accounts to move N67 billion, with offshore transfers to South Africa linked to the terror network.

21. Paul Nkwaya

Ayabatwa’s son and business partner in Leaf Tobacco & Commodities. He is accused of using the same banking channels to facilitate funds for the group.

22. Aboubacar Hima

A Nigerien arms dealer known as "Petit," operating in Abuja. He is under investigation for a massive fraud involving $1.19 million transferred from the UAE to associates of the convicts.

The Bottom Line

This report paints a terrifying picture of how terrorism is funded in Nigeria. It’s not just about fighters in the bush; it involves high-level businessmen, forex traders, and international connections moving billions of Naira through our banking system. With these details now in the open, the pressure is on for the government to explain why these men were let go.