The Chief of Army Staff, Lieutenant General Waidi Shaibu, has called on Nigeria’s banking sector to intensify efforts to detect and disrupt terrorism financing and other illicit financial flows threatening national security.
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Shaibu made the call on Monday, June 8, 2026, when he received the Group Managing Director and Chief Executive Officer of the United Bank for Africa, UBA, Mr. Oliver Alawuba, during a courtesy visit to the Army Headquarters in Abuja.
In a statement issued by the Army Spokesperson, Colonel Appolonia Anele, the Army Chief described the financial sector as a critical stakeholder in safeguarding national stability and supporting economic resilience.
He urged Alawuba, who also serves as Chairman of the Body of Bank CEOs, to mobilise the banking industry towards strengthening financial surveillance and intelligence-sharing mechanisms capable of detecting and blocking suspicious transactions linked to terrorism, banditry, kidnapping and other criminal activities.
According to him, cutting off the financial lifelines of criminal networks remains a major part of Nigeria’s counter-terrorism and internal security strategy.
Shaibu said the Nigerian Army would continue to work with relevant institutions to strengthen national security, adding that financial intelligence and collaboration with the banking sector were essential in tracking and disrupting the movement of funds used to sustain violent crimes.
The Army Chief also restated the commitment of the Nigerian Army to improving the welfare of personnel, which he described as vital to operational effectiveness and force readiness.
He disclosed that the Army was partnering with UBA to develop structured mortgage schemes and other housing initiatives aimed at expanding homeownership opportunities for serving and retired personnel.
Shaibu said the proposed housing initiatives would complement ongoing efforts to renew barracks infrastructure and improve the living conditions of troops and their families.
In his remarks, 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 also pledged the bank’s assistance in facilitating efficient financial services for Nigerian Army personnel deployed on international peace support operations.
The visit highlighted growing collaboration between the military and the financial sector in addressing security threats, improving troop welfare and strengthening institutional support for national stability.
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