The Chief of Army Staff (COAS), Lieutenant General Olufemi Oluyede, has called on Nigeria’s banking sector to strengthen financial surveillance and intelligence-sharing systems to help combat terrorism, banditry, kidnapping, and other security threats.
The Army Chief made the call on Monday, June 8, 2026, while receiving the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), Mr. Oliver Alawuba, during a courtesy visit to the Army Headquarters in Abuja.
He described the financial sector as a critical partner in safeguarding national stability, stressing that disrupting the financial networks of criminal groups is central to Nigeria’s counter-terrorism strategy.
Oluyede urged Alawuba, in his capacity as Chairman of the Body of Bank CEOs, to mobilise the banking industry toward enhancing mechanisms capable of detecting and blocking suspicious financial transactions linked to criminal activities.
“Financial institutions play a crucial role in identifying and cutting off funding channels that sustain terrorism and other crimes. Strengthening collaboration and intelligence-sharing is essential,” he said.
The COAS also highlighted ongoing efforts by the Nigerian Army to improve personnel welfare, noting that such initiatives are key to operational effectiveness and military readiness.
He disclosed that the Army is partnering with UBA to develop structured mortgage schemes and housing initiatives aimed at increasing homeownership opportunities for serving and retired personnel, alongside ongoing barracks renewal projects.
In his response, Alawuba reaffirmed UBA’s commitment to supporting the Nigerian Army through tailored financial solutions, including mortgage financing and support for infrastructure development.
The engagement underscores growing collaboration between the military and financial institutions in addressing both security and welfare challenges in Nigeria.
