Nigerian Army urges banks to disrupt terror financing
Analysis based on 13 articles · First reported Jun 08, 2026 · Last updated Jun 09, 2026
The event signifies a concerted effort to enhance financial security in Nigeria>>>, potentially reducing risks associated with illicit financial flows and improving the stability of the financial sector. The partnership between the Nigeria — Nigerian Army>>> and United Bank for Africa>>> could also lead to new financial products and services tailored for military personnel, benefiting the banking industry.
Lieutenant General Waidi Shaibu>>>, the Chief of Army Staff of the Nigeria — Nigerian Army>>>, has urged Nigeria>>>'s banking sector, specifically through Oliver Alawuba>>> as Chairman of the Body of Bank CEOs>>>, to intensify efforts against terrorism financing and other illicit financial flows. This call was made during a courtesy visit by Oliver Alawuba>>>, the GMD/CEO of United Bank for Africa>>>, to the Army Headquarters in Abuja. Waidi Shaibu>>> emphasized the financial sector's critical role in national security and economic resilience, advocating for enhanced financial surveillance and intelligence-sharing to detect and block suspicious transactions linked to criminal activities. Additionally, the Nigeria — Nigerian Army>>> is partnering with United Bank for Africa>>> to develop mortgage schemes and housing initiatives for military personnel, aiming to improve welfare and operational effectiveness. Oliver Alawuba>>> reaffirmed United Bank for Africa>>>'s commitment to supporting the Nigeria — Nigerian Army>>> with tailored financial solutions and welfare programs, including assistance for personnel on international peace support operations.
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