Counter-Terrorism Financing and National Security in Nigeria: Assessing The Role of Financial Intelligence

Terrorism financing has emerged as a major national security challenge in Nigeria due to the ability of terrorist organisations to generate, conceal, and transfer financial resources that sustain violent activities. The persistence of groups such as Boko Haram and the Islamic State West Africa Province (ISWAP) has highlighted the importance of financial intelligence as a strategic tool for detecting and disrupting terrorist funding networks. This study examined counter-terrorism financing and national security in Nigeria, with emphasis on assessing the role of financial intelligence between 2015 and 2025. The study adopted a qualitative research design using documentary analysis of relevant academic literature, government documents, legal frameworks, and reports from national and international institutions involved in anti-money laundering and counter-terrorism financing. The study was guided by Routine Activity Theory, which explains how criminal activities occur when motivated offenders exploit vulnerable systems in the absence of effective guardianship. Within this context, financial intelligence serves as a capable guardianship mechanism by identifying suspicious financial activities and preventing terrorist access to resources. The findings revealed that the nature of terrorism financing in Nigeria has changed significantly during the study period, moving from traditional insurgency funding structures to more complex financial networks involving kidnapping-for-ransom, extortion, illicit trade, corruption, informal financial systems, and organised criminal activities. The study concludes that financial intelligence remains an essential component of Nigeria’s national security architecture because it strengthens preventive security measures and reduces terrorists’ ability to access financial resources. It recommends improved institutional collaboration, investment in advanced financial intelligence systems, enhanced regulatory supervision, stronger enforcement mechanisms, and greater integration of financial intelligence into Nigeria’s wider counter-terrorism strategies.