Chief of Army Staff, Lt. Gen. Waidi Shaibu, has called on Nigeria’s banking sector to step up efforts in blocking terrorism financing and other illegal financial activities, describing the financial system as a vital pillar in the country’s security framework.
Shaibu made the appeal on Monday in Abuja when he received the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), Oliver Alawuba, during a courtesy visit to Army Headquarters.
According to a statement by the Acting Director of Army Public Relations, Col. Appolonia Anele, the Army Chief stressed that financial institutions play a crucial role in protecting national stability and must take a more active part in intelligence-driven monitoring of transactions.
He urged Alawuba, who also chairs the Body of Bank CEOs, to rally the banking industry towards stronger collaboration in tracking and blocking suspicious financial flows linked to terrorism, kidnapping, banditry, and other criminal activities.
Shaibu noted that cutting off the financial lifelines of criminal groups remains central to Nigeria’s counter-insurgency and internal security strategy. He further called for improved financial surveillance systems and enhanced intelligence sharing across the banking sector.
Beyond security concerns, the COAS also highlighted ongoing collaboration between the Nigerian Army and UBA aimed at improving personnel welfare. He disclosed plans for structured mortgage schemes and housing initiatives designed to promote homeownership among both serving and retired military personnel.
He explained that the initiative would complement existing efforts to upgrade barracks infrastructure, adding that troop welfare remains essential to operational efficiency and overall force readiness.
In response, UBA boss Oliver Alawuba reaffirmed the bank’s commitment to supporting the Nigerian Army through tailored financial solutions, including mortgage facilities, infrastructure financing, and welfare-focused programmes for personnel.
He also assured that the bank would assist in providing seamless financial services for troops engaged in international peacekeeping missions.