Nigeria, Aug. 25 -- Nigerian banks accounted for 92 per cent of suspicious transaction reports filed with the Nigerian Financial Intelligence Unit in 2025, highlighting the banking sector's central role in tracking questionable financial activities. The NFIU's 2025 Annual Report showed that reporting institutions submitted 42,082 suspicious transaction reports during the year, down significantly from more than 82,000 recorded in 2024.

Deposit money banks contributed 38,715 reports, while other financial institutions filed 2,185. Designated non financial businesses and professionals submitted 1,029 reports, with capital market and insurance operators recording 104 and virtual asset providers 49.

The News Chronicle reports that tax crime...