NFIU Records 42,082 Suspicious Transaction Reports in 2025

The Nigerian Financial Intelligence Unit (NFIU) received 42,082 Suspicious Transaction Reports (STRs) from banks, fintech firms and other reporting entities in 2025, according to its annual report.

The agency also recorded 41.72 million Currency Transaction Reports (CTRs) and 10,513 Suspicious Activity Reports (SARs), highlighting the scale of financial monitoring across Nigeria.

Deposit Money Banks accounted for most STR filings, submitting 38,715 reports, or about 92 per cent of the total. Other Financial Institutions filed 2,185, while Designated Non-Financial Businesses and Professions submitted 1,029. Capital market and insurance firms recorded 104, while Virtual Asset Service Providers (VASPs) filed 49.

Banks also dominated CTR submissions, contributing 37.21 million reports. The NFIU said reporting entities must comply with legal requirements covering threshold transactions, suspicious activities and anti-money laundering obligations.

The agency noted that STR filings increased through the year, rising from 9,134 in the first quarter to 10,032 in the fourth. VASP reporting also expanded, with the sector recording 49 STRs during the second half of 2025.

However, overall suspicious transaction reports fell sharply from 82,143 in 2024 to 42,082 in 2025, a decline of about 48.8 per cent. SARs also dropped by roughly 55 per cent, from 23,364 to 10,513.

The NFIU further reported 28.13 million submissions involving Politically Exposed Persons (PEPs) and conducted joint inspections of 29 reporting entities in Abuja.

The figures show that while transaction monitoring remains extensive, the sharp fall in suspicious transaction reports raises questions about reporting patterns and compliance across Nigeria’s financial system.

What could explain the significant decline in suspicious transaction reports despite rising transaction monitoring?