Despite efforts by countries in the Lake Chad region and their partners to suffocate the insurgency in the region, insurgents have continued to execute deadly attacks on civilians and military positions. Extant literature shows that the insurgency is sustained by factors like ideology, poverty, politics, arms proliferation, money laundering, external influence, among others. Not much has been done by scholars to establish the linkage between proceeds from engagement in licit trade by terrorist organisations in the region to the sustenance of the insurgency. Relying on data from secondary sources, this study provides evidence of the linkage.