CBN strengthens supervisory focus on terrorism financing risk
CBN Building
Nike Popoola
The Central Bank of Nigeria (CBN) has elevated terrorism financing risk to a current supervisory priority as part of efforts to protect the Nigerian financial system from abuse by illicit actors.
The apex bank disclosed this in a press statement issued on Tuesday, September 8, 2026, signed by its Acting Director, Corporate Communications and Investor Relations Department, Hakama Sidi-Ali.
According to the CBN, the enhanced supervisory focus covers terrorism financing risk management, transaction monitoring, implementation of targeted financial sanctions and terrorism financing-related suspicious transaction reporting.
The Bank said it would continue to apply a risk-based supervisory approach, involving both on-site and off-site engagement, to support effective Anti-Money Laundering, Countering the Financing of Terrorism and Counter-Proliferation Financing (AML/CFT/CPF) controls across the financial sector.
It stated that the supervisory approach would be implemented in line with existing legal and regulatory obligations.
The CBN added that the strengthened focus on terrorism financing supervision also supports Nigeria’s ongoing domestic and international cooperation on counter-terrorism financing, counter-proliferation financing and financial integrity.
The initiative, it noted, is also aimed at protecting the financial system from abuse.
“Further supervisory engagement will be undertaken as appropriate,” the Bank stated.
