🇳🇬 Army Targets Criminal Economy As COAS Calls For Stronger Banking Surveillance

The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, has urged Nigeria’s banking sector to strengthen financial intelligence efforts against terrorism financing and illicit financial networks supporting insecurity.

Desk: Defence & Governance

Date: Monday, 8 June 2026

Time: 20:45 WAT

Location: Abuja, Nigeria

The Nigerian Army disclosed in a statement issued by the Acting Director Army Public Relations, Colonel Appolonia Anele, that the COAS made the call while receiving the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), Mr Oliver Alawuba, at Army Headquarters, Abuja.

Financial Sector Identified As Security Partner

Lieutenant General Shaibu described the banking industry as a critical stakeholder in national security, urging stronger cooperation between financial institutions and security agencies to detect and disrupt suspicious transactions linked to terrorism, banditry, kidnapping and organised crime.

He stressed that targeting the financial lifelines of criminal networks remains an essential component of counter-terrorism operations and broader internal security efforts.

Welfare Strategy Expanded Through Housing Partnership

The COAS also highlighted personnel welfare as a key pillar of operational effectiveness, disclosing that the Nigerian Army is partnering with UBA on structured mortgage schemes and housing initiatives for serving and retired personnel.

The initiative is expected to complement ongoing barracks renewal efforts by improving access to sustainable housing solutions for members of the Armed Forces.

UBA Commits Support To Military Welfare

The UBA delegation reaffirmed its commitment to supporting the Nigerian Army through tailored financial services, including mortgage financing, infrastructure support and welfare-focused initiatives.

The partnership also includes support for personnel deployed on international peace support operations through improved access to financial services.

🏷️ Tags:: Nigerian Army, COAS Waidi Shaibu, UBA, Terror Financing, Counterterrorism, Military Welfare, Housing Scheme, National Security

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