Insecurity: ‘Disrupt terrorism financing’ – COAS charges Nigerian banks

The Chief of Army Staff, COAS, Lieutenant General Waidi Shaibu, has called on Nigeria’s banking sector to strengthen efforts at disrupting terrorism financing and other illicit financial flows that threaten national security. 

The COAS made the call on Monday while receiving the Group Managing Director, GMD of the United Bank for Africa, UBA, Mr Oliver Alawuba, during a courtesy visit to the Army Headquarters, Abuja. 

He described the financial sector as a critical stakeholder in safeguarding national stability and supporting economic resilience.

Lieutenant General Shaibu urged Mr Alawuba, in his 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. 

He emphasized that disrupting the financial lifelines of criminal networks remains a key component of Nigeria’s counter-terrorism and internal security strategy.

The COAS also highlighted the commitment of the Nigerian Army to improving personnel welfare as a pillar of operational effectiveness and force readiness. 

In his remarks, Mr Alawuba reaffirmed commitment to supporting the Nigerian Army through tailored financial solutions, including mortgage financing, support for military infrastructure projects, and welfare initiatives. 

He further pledged the bank’s assistance in facilitating efficient financial services for personnel deployed on international peace support operations.