IIARD International Institute of Academic Research and Development

IIARD INTERNATIONAL JOURNAL OF BANKING AND FINANCE RESEARCH (IJBFR )

E-ISSN 2695-1886
P-ISSN 2672-4979
Vol. 1 No.8 2015

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Efficient Financial Intelligence Practice – Panacea for Domestic Terrorism (A case study of Boko-Haram Insurgence in Nigeria)

Joseph Osenweokwu Ojeme

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Abstract

After nearly a decade of violence, Nigerian government has been unable to develop effective strategy for dismantling terrorism and terrorist attacks on the citizens particularly in the north east geopolitical zone of the country. In 2014 school girls numbering over 200 hundred were abducted as well as twice bomb blast in Nyanya at the nation’s capital killing over 90 people in all. There is no doubt that a lot of resources in terms of men and materials have been deployed in the last decade to counter insurgence to the detriment of national developmental objectives all to non- avail. This study examines the need for an efficient financial intelligence as a veritable tool to counter terrorism in Nigeria. Secondary sources of data will suffice, such as textbooks, journals, newspapers, magazines, internet documents among others. The paper concludes with recommendation for a robust and independent national financial intelligence agency practice that would corroborate with other financial institutions on guard to undertake financial surveillance that would ultimately frustrate the activities of terrorist and nip it on the bud before they crystallize as instrument of mass destruction.

keywords:

Efficient Domestic terrorism, Financial Intelligence Practice and Panacea

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