BANKS ACCOUNT FOR 92% OF NFIU SUSPICIOUS TRANSACTION REPORTS

Nigerian banks accounted for about 92 per cent of suspicious transaction reports submitted to the Nigerian Financial Intelligence Unit (NFIU) in 2025, highlighting their dominant role in monitoring financial activities.

According to the NFIU’s 2025 Annual Report, banks, fintech companies, and other reporting entities submitted 42,082 Suspicious Transaction Reports (STRs) during the year. Deposit Money Banks accounted for 38,715 reports, far ahead of other reporting institutions.

Other financial institutions submitted 2,185 reports, while designated non-financial businesses and professions filed 1,029. Capital market operators and insurance companies submitted 104 reports, while virtual asset service providers accounted for 49.

The NFIU also recorded more than 41.7 million Currency Transaction Reports, with Deposit Money Banks contributing about 89.2 per cent of the total.

The agency said the figures reflect increased monitoring of financial transactions amid risks linked to money laundering, fraud, illicit financial flows, and other financial crimes.

Experts said stronger reporting and monitoring systems across banks and other financial institutions will remain important in improving Nigeria’s fight against financial crime and strengthening the integrity of the financial system.