COAS Rallies Banks Against Terrorism Financing, Secures UBA Housing Deal for Troops
The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, has called on Nigeria’s banking sector to strengthen efforts aimed at disrupting terrorism financing and other illicit financial flows that pose a threat to national security.
The Army Chief made the call on Monday while receiving the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), Oliver Alawuba, during a courtesy visit to the Army Headquarters in Abuja.
Shaibu described the financial sector as a critical stakeholder in safeguarding national stability and supporting economic resilience, stressing the need for greater collaboration between security agencies and financial institutions in tackling emerging security threats.
He urged Alawuba, who also serves as Chairman of the Body of Bank CEOs, to galvanise 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 forms of criminality.
According to the COAS, disrupting the financial networks that sustain criminal groups remains a vital component of Nigeria’s counter-terrorism and internal security strategy.
“The financial sector has a pivotal role to play in protecting national security by identifying and preventing illicit financial activities that enable criminal operations,” he said.
Shaibu also underscored the Nigerian Army’s commitment to improving the welfare of its personnel, describing welfare enhancement as essential to operational effectiveness and force readiness.
As part of ongoing efforts to improve the living conditions of soldiers and veterans, he disclosed that the Army had entered into a partnership with UBA to develop structured mortgage schemes and other housing initiatives designed to expand homeownership opportunities for serving and retired personnel.
He noted that the initiative would complement ongoing barracks infrastructure renewal programmes across the country.
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 personnel welfare programmes.
The UBA chief also pledged the bank’s support in facilitating efficient financial services for Nigerian military personnel deployed on international peace support operations.
The meeting highlights growing collaboration between the military and the financial sector in addressing security challenges while advancing welfare programmes for members of the armed forces.
By TimesNG