The Nigeria Police Force and leaders of the banking sector have pledged to deepen collaboration to strengthen financial security and protect Nigeria’s financial system from emerging threats.
The commitment was made at an engagement hosted by the Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with the Body of Banks’ Chief Executive Officers in Lagos, where Inspector-General of Police (IGP) Kayode Egbetokun met with banking industry leaders.
The IGP said financial security was closely linked to national security, stressing that a resilient banking sector was crucial for investor confidence and Nigeria’s global credibility.
“There is a strong nexus between financial security and national security. The resilience of banking operations is central to investor confidence and Nigeria’s credibility in the global financial system,” Egbetokun said.
“When the financial system is secure, it strengthens national stability and economic growth.”
He noted that the banking sector was facing increasingly complex threats beyond conventional crimes such as armed robbery, pointing to the rise in cybercrime, identity theft, insider fraud and illicit financial flows.
“The threat environment is evolving. Beyond traditional risks such as armed attacks, we are now dealing with sophisticated cyber-enabled fraud, identity compromise, insider facilitation and illicit financial flows,” the IGP said.
“These threats require a coordinated and intelligence-driven response.”
Egbetokun said the Nigeria Police Force was adopting an intelligence-led policing approach to protect financial infrastructure and ensure business continuity across the sector.
“We are advancing intelligence-led strategies to safeguard financial infrastructure and ensure uninterrupted banking operations,” he said.
“Recent operations have dismantled violent crime networks, disrupted kidnapping syndicates and recovered illegal arms, thereby strengthening the enabling environment for business.”
He also disclosed that the police had engaged key financial regulators and market institutions to reinforce system integrity and investor protection.
“I recently met with the Director-General of the Securities and Exchange Commission and the Nigeria Exchange Group to deepen collaboration on financial system integrity and investor protection,” he said.
“Our goal is to ensure a secure and trusted financial ecosystem.”
In line with the Nigeria Police Act, 2020, the IGP said the Force was strengthening the recruitment, training and deployment of Supernumerary Police Officers (Spy Police) to meet the specialised security needs of banks and other critical financial institutions.
“We are enhancing the recruitment, training and deployment of Supernumerary Police Officers to address the specialised security requirements of banks and other critical financial institutions,” he stated.
“This is part of our commitment to professional and responsive security support for the financial sector.”
Egbetokun reaffirmed the Police Force’s commitment to working closely with the banking sector as a strategic partner in safeguarding Nigeria’s financial architecture.
“The Nigeria Police Force remains committed to partnering with the banking sector to protect the stability, integrity and international reputation of Nigeria’s financial system,” he said.
“This partnership is essential to sustaining investor confidence and economic development.”
