By Harriet Tornguvan
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 financing and other illicit financial activities that threaten national security.
Lieutenant General Shaibu made the call during a courtesy visit by the Group Managing Director and Chief Executive Officer of ubagroup.com, Oliver Alawuba, to the Army Headquarters in Abuja.
The Army Chief described the financial sector as a critical stakeholder in the nation's security architecture, stressing that effective collaboration between financial institutions and security agencies is essential to safeguarding national stability and economic growth.
According to a statement issued by Colonel Appolonia Anele, Acting Director of Army Public Relations, the COAS urged Alawuba, who also serves as Chairman of the Body of Bank CEOs, to mobilise the banking industry towards strengthening financial surveillance and intelligence sharing mechanisms capable of identifying and disrupting suspicious transactions linked to terrorism, banditry, kidnapping and other forms of criminality.
He noted that cutting off the financial lifelines of criminal networks remains a vital component of Nigeria's counter-terrorism and internal security strategy.
Shaibu also highlighted the Nigerian Army's commitment to improving the welfare of its personnel, describing it as a key factor in enhancing operational effectiveness and combat readiness.
As part of efforts to boost troop welfare, the Army Chief disclosed that the Nigerian Army is partnering with UBA to develop structured mortgage schemes and housing initiatives aimed at expanding homeownership opportunities for serving and retired personnel. He said the arrangement would complement ongoing efforts to renew and improve barracks infrastructure across the country.
In his response, Oliver Alawuba reaffirmed the bank's commitment to supporting the Nigerian Army through tailored financial solutions, including mortgage financing, military infrastructure support and personnel welfare programmes.
He also pledged the bank's assistance in facilitating efficient financial services for Nigerian military personnel deployed on international peace support operations.
The meeting underscored the growing partnership between the banking sector and the military in addressing security challenges while advancing the welfare and socio-economic well-being of troops and their families.
