Banks, fintechs, others report 42,082 suspicious transactions to NFIU in 2025

The Nigerian Financial Intelligence Unit (NFIU) has reveled that banks, fintech operators and other reporting entities submitted 42,082 Suspicious Transaction Reports in 2025, following tighter regulatory oversight.

The NFIU made this known in its 2025 Annual Report, which also showed that the agency received 41,716,214 Currency Transaction Reports and 10,513 Suspicious Activity Reports during the year.

The report stated, “During the review period, the NFIU received a total of 41,716,214 CTRs, 42,082 STRs, and 10,513 SARs.”

The NFIU explained that it receives threshold-based disclosures, suspicious transaction and activity reports, as well as regulatory submissions on anti-money laundering, counter-terrorism financing and counter-proliferation financing compliance.

It added that it works with the Central Bank of Nigeria, the National Insurance Commission, the Securities and Exchange Commission and the Special Control Unit Against Money Laundering to ensure reporting entities comply with relevant laws.

An analysis of the report showed that Deposit Money Banks remained the largest source of suspicious transaction reports, accounting for 38,715 filings, or about 92 per cent of the industry total.

Other Financial Institutions filed 2,185 STRs, while Designated Non-Financial Businesses and Professions submitted 1,029 reports. Capital market operators and insurance companies filed 104 reports, while Virtual Asset Service Providers, which include cryptocurrency service providers, reported 49 suspicious transactions.

READ ALSO: 10 people killed, many injured as suspected herdsmen attack Benue communities

Banks also accounted for the largest share of Suspicious Activity Reports, filing 8,313 of the 10,513 SARs received by the NFIU during the year. Other Financial Institutions submitted 1,816 SARs, capital…