ABUJA, Nigeria — The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, has issued a strong charge to Nigeria’s banking industry to implement more aggressive measures to disrupt terrorism financing, tracking it as a vital pillar in neutralizing banditry and insurgency across the country.
The military chief made the call on Monday, June 8, 2026, during a high-profile courtesy visit by the Group Managing Director and Chief Executive Officer of the United Bank for Africa (UBA), Mr. Oliver Alawuba, to the Army Headquarters in Abuja.
Okay News reports that the strategic meeting targeted both national security intelligence and the socio-economic welfare of military personnel. Addressing Alawuba in his dual capacity as the GMD of UBA and the current Chairman of the Body of Bank CEOs, Lieutenant General Shaibu emphasized that the financial sector holds a critical, front-row responsibility in safeguarding national stability by crippling the economic lifelines of criminal syndicates.
The COAS urged the leadership of the banking sector to mobilize all domestic financial institutions toward significantly upgrading their internal financial surveillance and data-sharing networks. This technological push aims to establish real-time mechanisms capable of flagging, blocking, and reporting suspicious transaction trails tied to ransom payouts, illegal arms procurement, and laundering networks used by bandits and kidnappers. “Disrupting the financial lifelines of criminal networks remains a key component of Nigeria’s counter-terrorism and internal security strategy,” Shaibu stated.
Shifting focus to internal military welfare, the COAS announced a landmark partnership between the Nigerian Army and UBA aimed at rolling out structured mortgage schemes and credit-assisted housing initiatives for troops. The partnership is designed to expand homeownership opportunities for both serving and retired personnel, serving as a vital safety net that complements the Federal Government’s ongoing barracks infrastructure renewal projects.
In his response, Mr. Oliver Alawuba reaffirmed UBA’s institutional commitment to standing firmly behind the armed forces through tailored financial solutions. Beyond backing the newly proposed mortgage frameworks and physical military infrastructure upgrades, the banking chief pledged UBA’s specialized technical support in automating and smoothing out efficient international financial services for Nigerian troops currently deployed on foreign peace support operations. The meeting concluded with an exchange of souvenirs, as detailed in an official defense release signed by the Acting Director of Army Public Relations, Colonel Appolonia Anele.
