Addis Ababa, October 24, 2025 (FMC) – The National Bank of Ethiopia (NBE) has directed all commercial banks to identify and report businesses and individual traders conducting operations through personal or third-party bank accounts, warning that such practices undermine financial oversight and may be linked to illegal activities.
In a statement released today, the central bank said its recent assessment under Proclamation No. 1359/2025 revealed that a significant number of businesses and traders are using personal or third-party accounts instead of their registered business accounts.
The NBE noted that this practice appears aimed at evading tax oversight and could involve proceeds of crime or transactions related to illicit activity.
“To safeguard the soundness and integrity of the financial system, the National Bank of Ethiopia will undertake coordinated action to curb these illicit practices,” the statement said.
Under the directive, all commercial banks are required to collect and submit information on businesses and individual traders using personal or third-party accounts for official operations.
The measure, according to the statement, is part of the NBE’s broader efforts to strengthen financial transparency, enhance the traceability of business transactions, and ensure compliance with national laws.
The central bank emphasized that the enforcement step aligns with its mandate to uphold the integrity and stability of Ethiopia’s banking system and the broader economy, underscoring its commitment to preventing tax evasion and illicit financial flows.