Nigeria urges AU against illicit funds
Analysis based on 9 articles · First reported Jul 21, 2026 · Last updated Jul 22, 2026
The event is unlikely to have a direct market impact. However, increased focus on counter-terrorism financing may affect companies involved in security and defense in Africa.
On July 21, 2026, Nigeria's Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, addressed the 1354th Meeting of the Peace and Security Council of the African Union at the ministerial level, held virtually. She called on the AU to intensify efforts to block illicit financial flows that sustain terrorist groups across Africa, warning that access to illegal funds is a major obstacle to defeating terrorism. She highlighted that terrorist groups are increasingly using drones and other technologies, and financing through kidnapping and illegal mining. Nigeria condemned terrorism and expressed solidarity with victims, while urging implementation of commitments from the 2022 Malabo Summit and 2024 Abuja meeting. The meeting was chaired by Uganda's Acting Minister of Foreign Affairs, Haruna Kyeyune Kasolo.
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