Nigerian banks and fintechs report over 42,000 suspicious transactions to NFIU in 2025
In 2025, Nigerian banks, fintech operators, and other reporting entities submitted 42,082 Suspicious Transaction Reports to the Nigerian Financial Intelligence Unit. This increase in compliance with anti-money laundering regulations comes amid heightened regulatory oversight. The NFIU's 2025 Annual Report also indicated that the agency received 41,716,214 Currency Transaction Reports and 10,513 Suspicious Activity Reports during the year. Deposit Money Banks were the primary source of these reports, accounting for 38,715 Suspicious Transaction Reports, approximately 92 percent of the total. Other Financial Institutions filed 2,185 STRs, and Designated Non-Financial Businesses and Professions submitted 1,029 reports. Virtual Asset Service Providers, including cryptocurrency service providers, reported 49 suspicious transactions. The NFIU collaborates 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 compliance with relevant laws. The report also noted a significant increase in Currency Transaction Reports and Politically Exposed Persons reports compared to 2024, while Suspicious Transaction Reports and Suspicious Activity Reports saw a decline, suggesting a shift in reporting patterns following enhanced compliance measures and regulatory reforms.
