The Chief of Army Staff, Lieutenant General Waidi Shaibu, has called on Nigeria’s banking sector to intensify efforts at disrupting terrorism financing and other illicit financial flows.
Shaibu warned that the financial industry is a critical line of defence in the country’s security architecture.
A statement on Monday by the Army’s spokesperson, Col. Appolonia Anele said Shaibu made the call while receiving the Group Managing Director and Chief Executive Officer of the United Bank for Africa, Oliver Alawuba, during a courtesy visit to the Army Headquarters, Abuja.
Describing the financial sector as a critical stakeholder in safeguarding national stability, the COAS urged Alawuba, in his capacity as Chairman of the Body of Bank CEOs, to mobilise the entire banking industry behind the effort.
“Nigeria’s banking sector must strengthen efforts at disrupting terrorism financing and other illicit financial flows that threaten national security.
“The financial sector is a critical stakeholder in safeguarding national stability and supporting economic resilience.
“Mr Alawuba, please use your capacity as Chairman of the Body of Bank CEOs, to mobilise the banking industry towards enhancing financial surveillance and intelligence-sharing mechanisms capable of detecting and blocking suspicious transactions linked to terrorism, banditry, kidnapping, and other criminal activities.
“Disrupting the financial lifelines of criminal networks remains a key component of Nigeria’s counter-terrorism and internal security strategy,” the statement partly read.
He called on the banking industry to enhance financial surveillance and intelligence-sharing mechanisms capable of detecting and blocking suspicious transactions linked to terrorism, banditry, kidnapping and other criminal activities.
Beyond security cooperation, the Army Chief also addressed the welfare of military personnel, disclosing that the Nigerian Army was partnering with UBA to develop structured mortgage schemes and housing initiatives aimed at expanding homeownership opportunities for both serving and retired soldiers.
He said the housing partnership would complement ongoing barracks infrastructure renewal efforts, describing improved personnel welfare as a pillar of operational effectiveness and force readiness.
Responding, Alawuba reaffirmed UBA’s commitment to supporting the Nigerian Army through tailored financial solutions.
These, he said, would include mortgage financing, support for military infrastructure projects and welfare initiatives for personnel.
The UBA chief also pledged the bank’s assistance in facilitating efficient financial services for soldiers deployed on international peace support operations.
The meeting at Army Headquarters underscored growing efforts by Nigeria’s military leadership to build institutional partnerships with the private sector in addressing both security and welfare challenges facing the armed forces.
Nigeria has been battling a complex web of security threats for over a decade, including Boko Haram and ISWAP terrorism in the North East, banditry and kidnapping in the North West, separatist agitation in the South East and oil-related crime in the Niger Delta.
