The Central Bank of Nigeria (CBN) has intensified its supervisory attention on terrorism financing risks within the country’s financial sector.
The Apex Bank said the move was part of its efforts to prevent the financial system from being exploited by individuals and groups involved in illicit activities.
In a press release dated September 8, 2026, signed by Sidi-Ali, Hakama (Mrs.), Ag. Director, Corporate Communications and Investor Relations Department, the CBN said it had elevated terrorism financing supervision to a current supervisory priority.
The Bank said the new focus would cover key areas including terrorism financing risk management, transaction monitoring, implementation of targeted financial sanctions and the reporting of suspicious transactions linked to terrorism financing.
According to the CBN, financial institutions are expected to maintain effective systems for identifying and managing risks associated with money laundering, terrorism financing and proliferation financing.
“The Bank will continue to apply a risk-based supervisory approach, including on-site and off-site engagement, to support effective AML/CFT/CPF controls across the financial sector in line with existing legal and regulatory obligations,” the statement said.
The CBN explained that its supervisory approach would involve both on-site and off-site engagements with financial institutions to assess compliance with existing laws and regulatory requirements.
The Bank also said the strengthened supervision would support Nigeria’s domestic and international efforts against terrorism financing and proliferation financing.
“This supervisory focus also supports Nigeria’s ongoing domestic and international cooperation on counter-terrorism financing, counter-proliferation financing, financial integrity, and the protection of the financial system,” it stated.
The CBN said the initiative was also aimed at protecting the integrity of Nigeria’s financial system and preventing its abuse for unlawful purposes.
It added that further supervisory actions would be taken where necessary.
“Further supervisory engagement will be undertaken as appropriate,” the Apex Bank stated.