Navy Cracks Militant Funding Ring, Seizes ₦5.5m Extortion Ledger in Cross River

The Nigerian Navy has recorded a major operational breakthrough in its ongoing fight against militancy and criminal activities in the nation’s waterways, disrupting a suspected militant financing network and recovering extortion records amounting to over ₦5.5 million at Dayspring Island in Cross River State.

The operation was carried out by personnel of the Nigerian Navy Ship (NNS) VICTORY deployed at the Forward Security Outpost on Dayspring Island following credible intelligence on the activities of suspected militants operating within the Ini Abasi fishing settlement in Akpabuyo Local Government Area.

According to a statement issued by the Director of Naval Information, Navy Captain Abiodun Folorunsho, intelligence reports revealed that the location served as a meeting point and operational base for criminal elements who emerged from adjoining creeks to coordinate attacks, intimidate residents, extort fishermen and maritime transport operators, and engage in other criminal activities within the area.

Acting on the intelligence, naval personnel launched a targeted raid on the suspected hideout and conducted a comprehensive search of the area. Although the suspects fled upon sighting the advancing troops, the operation led to the recovery of several wraps of suspected cannabis sativa and a handwritten ledger containing names and monetary entries totaling ₦5.529 million.

Preliminary findings indicated that the recovered document was used to record illegal levies imposed on local fishermen and maritime transport operators operating within the area. The Navy believes the proceeds from the extortion scheme served as a major source of funding for militant operations and other criminal enterprises around the Dayspring Island axis.

The Navy described the operation as a significant step toward dismantling the financial and logistical structures that sustain criminal activities in the maritime environment. It noted that targeting illicit revenue streams remains a critical strategy in weakening the operational capabilities of criminal groups and denying them the resources required to sustain their activities.

Following the raid, naval personnel engaged community leaders and residents, assuring them of the Navy’s commitment to maintaining a sustained security presence and conducting intelligence-driven operations aimed at restoring lasting peace and security within the waterways.

The Nigerian Navy reiterated its determination to sustain aggressive patrols, targeted raids and community-focused engagements to eliminate criminal elements, disrupt their support networks and create a safer environment for legitimate economic activities to flourish within the nation’s maritime domain.

The latest success underscored the Navy’s intensified efforts to combat maritime crime and strengthen security across Nigeria’s coastal and inland waterways.

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