The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, has called on Nigeria’s banking sector to play a more active role in combating terrorism, banditry, kidnapping, and other security threats by strengthening mechanisms for tracking and disrupting illicit financial transactions.
The Army Chief made the appeal on Monday while receiving 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.
Lieutenant General Shaibu described the financial sector as a vital partner in safeguarding national security and promoting economic stability, noting that financial institutions occupy a strategic position in efforts to identify and block funding channels used by criminal and terrorist groups.
He urged Alawuba, who also serves as Chairman of the Body of Bank CEOs, to rally the banking industry towards improving financial surveillance systems and intelligence-sharing frameworks capable of detecting suspicious transactions linked to criminal activities.
According to the COAS, cutting off the financial lifelines of terrorist organisations, bandits, kidnappers, and other criminal networks remains a critical component of Nigeria’s broader counter-terrorism and internal security strategy.
“The banking sector has a significant role to play in supporting national security through effective monitoring of financial transactions and collaboration with relevant agencies to identify and disrupt illicit financial flows,” he said.
Shaibu stressed that enhanced cooperation between security agencies and financial institutions would significantly improve efforts to combat emerging security threats and deny criminal groups access to resources needed to sustain their operations.
The Army Chief also highlighted ongoing efforts by the Nigerian Army to improve the welfare of its personnel, describing welfare enhancement as a key factor in maintaining operational effectiveness, morale, and combat readiness.
He disclosed that the Army is partnering with UBA to develop structured mortgage and housing schemes aimed at expanding homeownership opportunities for both serving and retired military personnel.
According to him, the initiative is designed to complement existing barracks renewal projects and improve the overall living conditions of officers and soldiers.
Lieutenant General Shaibu noted that access to affordable housing remains a critical aspect of personnel welfare and expressed optimism that the partnership would provide lasting benefits for members of the Armed Forces.
In his response, the Group Managing Director and Chief Executive Officer of UBA, Mr Oliver Alawuba, reaffirmed the bank’s commitment to supporting the Nigerian Army through innovative and tailored financial solutions.
He pledged the bank’s support for mortgage financing programmes, military infrastructure development projects, and welfare initiatives aimed at improving the well-being of Army personnel and their families.
Alawuba also assured the Army of UBA’s readiness to facilitate seamless and efficient financial services for personnel deployed on international peace support operations and other assignments abroad.
He commended the Nigerian Army for its sacrifices in protecting the nation’s territorial integrity and maintaining peace and security across the country.
The visit underscored the growing collaboration between the military and the financial sector in addressing national security challenges, promoting economic resilience, and improving the welfare of personnel serving in the Armed Forces of Nigeria.
