CBN elevates terrorism financing to top supervisory priority - ITREALMS

The Central Bank of Nigeria (CBN) has elevated terrorism financing supervision to a core supervisory priority as part of its ongoing efforts to safeguard the nation's financial system from exploitation by illicit actors, reports ITREALMS.

According to a press statement issued on September 8, 2026, by Hakama Sidi-Ali, the Acting Director of Corporate Communications and Investor Relations, the enhanced focus encompasses terrorism financing risk management, transaction monitoring, targeted financial sanctions implementation, and the reporting of related suspicious transactions.

To enforce these measures effectively across the financial sector, the apex bank intends to maintain a risk-based supervisory strategy, utilizing both on-site and off-site engagements in alignment with existing regulatory mandates.

Furthermore, this intensified oversight is designed to bolster Nigeria's broader domestic and international cooperation concerning financial integrity, counter-proliferation financing, and counter-terrorism measures.

The Central Bank noted that additional supervisory steps will be rolled out as necessary.