'They (terrorists) have become so independent and localised that they generate their own funds locally.
Nigeria's largely cash-based and informal economy has made it difficult for security agencies to trace the movement of illicit funds, especially those meant for funding terror activities, a panel of experts said Wednesday.
He said:"They have become so independent and localised that they generate their own funds locally. And how do they do it? It's very simple. As a matter of fact, in this country, our economy is still informal. According to him, the terrorists simply resorted to taking food items, cattle, motorcycles and other valuables as ransom instead of the usual cash.
"Everything is done in the dark. A lot of things are hidden as seemingly legitimate funds. So we have to dig deep in order to find the leakages," he said.
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