Former Theatre Commander of Operation Safe Haven, Major General Anthony Atolagbe (retd.), has alleged that sponsors of Boko Haram and other terrorist groups are increasingly using cryptocurrency to conceal financial transactions and evade detection by security agencies.
Speaking during an interview on Arise Television Monitored by The News Chronicle on Thursday, Atolagbe said the growing use of digital assets by terror financiers poses a major challenge to security agencies, as cryptocurrency transactions are more difficult to trace than conventional banking channels.
“They are using crypto to conceal their money so that it cannot be easily traced. But then we also thank the government that certain pronouncements were made by the president recently that some measures on the control of crypto will now be put in place so that we can get to know who owns what, how much money is being put in, and several other things that accompany that,” he said.
The retired general welcomed recent government efforts aimed at strengthening oversight of cryptocurrency transactions, expressing optimism that tighter regulations would help security agencies identify suspicious financial activities and disrupt terrorist funding networks.
Atolagbe also warned that terrorist groups are increasingly deploying sophisticated communication technologies to support their operations.
According to him, insurgents now have access to advanced radio communication systems comparable to those used by international organisations, including equipment manufactured by companies such as Siemens.
He explained that such systems enable terrorists to monitor troop movements in real time, detect when military patrols stop, and assess whether security personnel are resting or preparing to launch an operation.
The former commander stressed that the evolving tactics and technologies employed by terrorist groups underscore the need for continuous investment in intelligence gathering, surveillance capabilities.
