Nigeria has arrested 11 suspects in a sweeping crackdown on terrorism financing as part of INTERPOL’s continent-wide Operation Catalyst, a coordinated effort targeting illicit financial networks across Africa.

The operation, conducted between July and September 2025, spanned six countries—Angola, Cameroon, Kenya, Namibia, Nigeria, and South Sudan—leading to the identification of 160 individuals of interest and the arrest of 83 suspects overall.

According to investigators, the crackdown also exposed a massive cryptocurrency-based Ponzi scheme that defrauded more than 100,000 victims across 17 countries, including Nigeria. The scheme is believed to have generated approximately $562 million, with authorities now tracing and recovering assets to prevent the funds from being diverted into terrorism-related activities.

During the operation, financial authorities screened more than 15,000 individuals and entities, uncovering an estimated $260 million in both fiat and virtual currencies potentially tied to terrorism financing. Around $600,000 has already been seized, while additional funds are under investigation.

INTERPOL has also issued a Red Notice for a key suspect linked to a sophisticated crypto fraud valued at about $5 million, with early indications suggesting the proceeds may have been funneled into terrorist operations.

The initiative was coordinated by INTERPOL and AFRIPOL and supported by several private-sector partners, including Binance, Moody’s, and Uppsala Security.

INTERPOL Secretary General Valdecy Urquiza hailed the effort as a milestone in collaborative security, stating, “Operation Catalyst is the first time financial crime, cybercrime, and counter-terrorism units from multiple African countries have joined forces with INTERPOL and AFRIPOL to target the financing of terrorism.”

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