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Challenges of Combating Terrorist Financing in the Lake Chad Region: A Case of Boko Haram

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  • Kangdim Dingji Maza
  • Umut KoldaÅŸ
  • Sait Aksit

Abstract

Does counterterrorist financing (CTF) support the entire process of the global fight against terrorism? Finding answers to this question helps to address the difficulties facing relevant actors in defeating the Boko Haram (BH) terrorist group. This article examines the various funding strategies used by BH as well as the state, sub-regional and regional responses that have proven difficult in stemming the expansion of this terror group across the northeast and Lake Chad region. The study adopted qualitative research techniques through the use of Key Informant Interviews (KII) to gather data to address its central question. Findings of the article reveal that, regardless of the efforts toward containing the funding of this terror group, challenges remain in terms of the inability of relevant actors to operationalize the various CTF policies. Challenges include the institutional and techno-scientific challenges, the cui bono and prodest effect by beneficiaries of terrorism, uncoordinated CT strategies, the lack of political will by the relevant actors to address the challenge of TF and the structural conditions which render the CTF policies ineffective and help sustain the funding operations of this terror group. The study, among other things, suggests the implementation of various CTF policies and initiatives. Above all, effective border management and control besides effective intelligence and counterintelligence gathering systems to monitor and track the illicit flow of cash for terror-related activities should be an essential part of the initiatives. The strengthening of relevant institutions to address issues related to financial crimes, transnational threats, the arrest, and prosecution of sponsors of terrorism would enhance CTF. However, the CTF policies and initiatives require revitalization of the willingness of relevant actors to address the structural and systemic conditions facilitating BH funding activities across the Lake Chad region.

Suggested Citation

  • Kangdim Dingji Maza & Umut KoldaÅŸ & Sait Aksit, 2020. "Challenges of Combating Terrorist Financing in the Lake Chad Region: A Case of Boko Haram," SAGE Open, , vol. 10(2), pages 21582440209, June.
    • Handle: RePEc:sae:sagope:v:10:y:2020:i:2:p:2158244020934494
    DOI: 10.1177/2158244020934494
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    References listed on IDEAS

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    1. Simplice Asongu & Joseph Amankwah-Amoah, 2016. "Military expenditure, terrorism and capital flight: Insights from Africa," Working Papers of the African Governance and Development Institute. 16/018, African Governance and Development Institute..
    2. Uchenna Efobi & Simplice Asongu, 2016. "Terrorism and capital flight from Africa," International Economics, CEPII research center, issue 148, pages 81-94.
    3. Institute for Economics and Peace, 2017. "Global Peace Index 2017," Working Papers id:11991, eSocialSciences.
    4. Akepe Linus Enobi & Samuel F. Johnson-Rokosu, 2016. "Terrorism Financing. The Socio-Economic and Political Implications of Boko Haram Insurgency in Lake Chad Basin," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 2(1), pages 25-41, March.
    5. Timothy Wittig, 2011. "Understanding Terrorist Finance," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-31693-5, December.
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