COAS tasks banks to strengthen mechanism of blocking terrorism financing
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, 8 June 2026, while receiving the Group Managing Director and Chief Executive Officer (GMD/COE) 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 mobilize 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.
He disclosed that the Army is partnering with UBA to develop structured mortgage schemes and other housing initiatives aimed at expanding homeownership opportunities for serving and retired personnel while complementing ongoing barracks infrastructure renewal efforts.
In his remarks, Mr Alawuba reaffirmed UBA’s 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.
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