United Nations (UN) stated that the cash economy plays a major factor fuelling the evil activities of the Boko Haram and other terrorist groups in the Lake Chad Basin region.
This was contained in the 22nd Report of the Analytical Support and Sanctions Monitoring Team, pursuant to resolution 2368 (2017) concerning Islamic State in Iraq and the Levant – ISIL – (Da’esh), Al-Qaida and associated individuals and entities.
Edmund Fitton-Brown, Coordinator, Analytical Support and Sanctions Monitoring Team, has signed the report and said that the report was “comprehensive and independent”.
Kairat Umarov, Chair, Security Council Committee also signed the report.
UN said: “The predominance in the region of the cash economy, without controls, is conducive to terrorist groups funded by extortion, charitable donations, smuggling, remittances and kidnapping.
“In Nigeria, 111 schoolgirls from the town of Dapchi were kidnapped on 18 February 2018 and released by ISWAP on 21 March 2018 in exchange for a large ransom payment”.