Deposit Money Banks dominated financial crime reporting in Nigeria last year, accounting for 92% of all Suspicious Transaction Reports submitted to the Nigerian Financial Intelligence Unit, NFIU, in 2025.
According to the NFIU’s 2025 Annual Report, reporting entities filed a total of 42,082 STRs, 10,513 SARs, and a massive 41,716,214 Currency Transaction Reports during the review period.
Banks Top Suspicious Activity Filings
The report showed that Deposit Money Banks submitted 38,715 STRs* out of the 42,082 total, representing about 92 per cent.
Other sectors lagged far behind:
– Other Financial Institutions: 2,185 STRs
– DNFBPs: 1,029 STRs
– Capital Market & Insurance: 104 STRs
– Virtual Asset Service Providers: 49 STRs
Banks also led in Suspicious Activity Reports with *8,313 of the 10,513 SARs* filed. OFIs accounted for 1,816, capital market and insurance firms filed 295, while VASPs submitted 89. The DNFBP sector recorded zero SARs for the year.
Over 41.7 Million Transactions Flagged
Financial institutions filed more than *41.7 million CTRs* in 2025. Banks again dominated with *37,214,139 filings*, or 89.2% of the total. OFIs submitted 4,212,466, while capital market and insurance operators filed 289,296. VASPs recorded just 313 CTRs.
The NFIU noted that under Section 11 of the Money Laundering Act, institutions must report transactions above *N5m for individuals* and *N10m for corporate entities* within 7 days. Section 3(1) also mandates reporting of transfers above *$10,000* within 24 hours.
Quarterly data showed a steady rise in bank reporting. STRs from DMBs grew from *9,134 in Q1* to *10,032 in Q4*. CTRs also climbed from 7,040,493 in Q1 to 11,091,107 in Q4.
Crypto, PEPs and Compliance Checks
Virtual Asset Service Providers saw increased activity in the second half of 2025. The sector filed *zero STRs in H1*, but recorded *17 in Q3* and *32 in Q4*. They also submitted 89 SARs and 313 CTRs for the year.
The NFIU disclosed that *28,133,909 reports* involved Politically Exposed Persons in 2025. Banks filed the majority, with 8,225,572 PEP reports in Q4 alone. OFIs jumped from just 12 PEP reports in Q1 to 617,286 in Q4.
The agency’s DNFBP division also conducted joint on-site examinations of *29 entities in the FCT* covering real estate, casinos, precious metals and consultancy. The exercise led to 20 new registrations on the RapidAML portal and *1,029 STR submissions*.
Sharp Drop Compared to 2024
Despite higher volumes of threshold and PEP reports, suspicious filings dropped sharply year-on-year.
STRs fell by 48.8% from *82,143 in 2024* to 42,082 in 2025 — a decline of 40,061 reports.
SARs also dropped by 55% from 23,364 in 2024* to 10,513 in 2025.
The NFIU said it continues to collaborate with the CBN, NAICOM, SEC and SCUML to ensure compliance with anti-money laundering, counter-terrorism financing and counter-proliferation financing regulations.
