Ethiopia’s central bank said on Thursday it had ordered commercial banks to report businesses and traders using personal or third-party bank accounts instead of their registered business accounts, citing concerns over tax evasion and illicit financial activity.
The National Bank of Ethiopia (NBE) said its assessment revealed that “a significant number of bank customers, primarily business organizations and individual traders,” were conducting official transactions through personal or third-party accounts. The regulator said the practice “appears to be intended to evade oversight by tax authorities” and could involve “proceeds of crime or illegal activities.”
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To “safeguard the soundness and integrity of the financial system,” the NBE said it had directed all banks to collect and submit detailed information on such accounts.
The move follows the introduction of Proclamation No. 1359/2025, which strengthens the NBE’s supervisory powers over financial institutions as part of wider efforts to curb money laundering, tax evasion, and informal financial practices in the economy.
