Army Chief Urges Banks to Combat Terror Financing

On a Monday, Lt. Gen. Waidi Shaibu, the Chief of Army Staff of the Nigerian Army, called on the banking sector to intensify efforts to disrupt terror financing and illicit financial flows that threaten national security. This statement was made during a courtesy visit by Oliv Alawuba, the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), at the Army Headquarters in Abuja.

Shaibu described the financial sector as a critical stakeholder in safeguarding national stability and urged Alawuba, who is also the Chairman of the Body of Bank CEOs, to mobilize the entire banking industry to enhance financial surveillance and intelligence-sharing mechanisms. These measures aim to detect and block suspicious transactions linked to terrorism, banditry, and kidnapping.

Additionally, Shaibu addressed the welfare of military personnel, revealing a partnership with UBA to develop a mortgage scheme to expand homeownership opportunities for retired soldiers, complementing ongoing barrack infrastructure renewal efforts.