Boko Haram has enough money to buy its own artillery now according to Voice of America. Analysts interviewed by VOA said there probably isn’t enough funding within Nigeria for buying heavy weapons, indicating that much of Boko Haram’s funding comes from abroad. Several revenue sources were named:
- West African piracy
- Drug smuggling
- Unrest from the Arab Spring has created and weapons trafficking “highway” to Nigeria
- Bank robberies
- Stealing from the Nigerian military
In addition to the Boko Haram bank robberies, previous Money Jihad coverage has shown that zakat has been funneled by Boko Haram supporters through Nigerian banks to fund terrorist operations.