Ethiopians Abroad urged to Send Money via Formal Channels

ADDIS ABABA – Don’t not support terrorist organizations by sending money via informal black market channels, government urges Ethiopians in Diaspora on Friday.

“Curb illicit financial flows,” says Billene Seyoum, spokeswoman of the PM Office, in a message directed to the Ethiopian diaspora.

“You’re urged to use formal financial channels for remittances and not fall into the trap of aiding and abetting terror organizations through informal black-market channels,” she continues. “It is a critical juncture to stand guard for Ethiopia.”

The call came a few weeks after the difference between legal and black market currencies exchange, despite stabilizing in recent days, reportedly skyrocketed with a US Dollar exchanged for 67 to 70 Birr a couple of weeks ago.

The government believes that the rise is a part of an economic sabotage orchestrated by individuals and groups who have links with the Tigray People’s Liberation Front (TPLF) and Shene, a group designated as terrorist entities by the Ethiopian parliament in May, 2021.

Agents of the terrorist group in Addis Ababa and other cities have been caught attempting to undertake widespread economic scams through coordinating illicit financial flows, illegal fundraising and logistical arrangement in support of these groups, the PM office said.

The Federal Police says the agents, who are engaged in transferring the value of dollars to Ethiopia by keeping the foreign currency abroad, are using the dollars sent by Ethiopians living abroad as a means of financing and logistical support for the terrorist group, according to Federal police.

Eleven individuals have recently been arrested for having a direct link with the network, according to the federal police. Six money transfer companies are also under investigation, says the Police, which also reveals the names of 14 individuals who are participating in the illegal financial flow from countries where many Ethiopians reside.

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