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In a bid to reinforce stability within Nigeria’s financial system, the Inspector-General of Police (IGP) has reiterated the Nigeria Police Force’s commitment to working closely with banking institutions to safeguard investor confidence.
The assurance comes at a crucial period as the nation’s financial sector strives to recover from recent economic challenges. The IGP’s pledge is expected to positively influence investor sentiment, a key factor in attracting and sustaining investments in the industry.
The commitment was made on Thursday in Lagos during a meeting with the Chartered Institute of Bankers of Nigeria and the Body of Bankers’ Chief Executive Officers.
Stakeholders within the financial community have welcomed the development, describing it as a significant move toward rebuilding trust in the sector. Banking leaders expressed optimism that stronger collaboration with law enforcement would help curb financial crimes, which have increasingly concerned investors.
The proposed partnership is anticipated to bring wide-ranging benefits, including improved security frameworks, greater transparency in financial dealings, and renewed investor confidence. As the financial landscape continues to evolve, cooperation between the police and banking sector is expected to play a pivotal role in shaping its trajectory.
Addressing participants at the meeting, the IGP affirmed the readiness of the police to partner with financial institutions in detecting and preventing crimes such as fraud and money laundering.
IGP Kayode Egbetokun emphasized the Force’s support for the banking industry, noting that any disruption to banking operations in any part of the country could weaken public trust in formal financial systems, discourage participation in the regulated economy, and harm Nigeria’s international reputation.
He described the banking sector as more than just an engine of economic growth, calling it a fundamental pillar of national stability. According to him, the strength, reliability, and continuity of the financial system are directly tied to public trust, investor perception, and the credibility of Nigeria’s economic governance.
Egbetokun observed that in today’s global environment, financial security is closely linked with national security. He explained that efficient payment systems, stable banking operations, and strong regulatory compliance frameworks not only drive domestic prosperity but also influence Nigeria’s standing in the global financial community.
He stressed that safeguarding the nation’s financial infrastructure must be treated as a collective national responsibility, requiring structured collaboration among law enforcement agencies, regulators, and financial institutions.
The IGP further noted that threats to the banking sector have become increasingly sophisticated. While traditional risks such as armed robberies and attacks on cash transit routes still exist in some areas, they are now compounded by more complex and cross-border challenges. These include cyber-enabled fraud, identity theft, insider collusion, organized financial crime, and illicit financial flows.
According to him, such threats are technologically advanced, adaptable, and often coordinated across international boundaries.
He stated that the effectiveness of a nation’s security and enforcement systems now plays a direct role in shaping investor confidence and maintaining market stability. In response, the Nigeria Police Force is adopting an intelligence-driven approach to protecting financial infrastructure. The goal, he said, is to maintain a secure, credible, and resilient financial system that supports economic growth, financial inclusion, and global competitiveness.
Rather than reacting after crimes occur, the police are focusing on proactively dismantling criminal networks. In recent months, the Force has intensified operations targeting violent crime groups, kidnapping syndicates, illegal arms trafficking, and organized criminal networks whose activities threaten commercial stability.
Egbetokun explained that these efforts go beyond routine security achievements, serving as critical foundations for business continuity, investor assurance, and sustainable economic growth.
He also disclosed that the Police have strengthened collaboration with key institutions responsible for financial integrity and enforcement, including the Economic and Financial Crimes Commission (EFCC), the Nigeria Financial Intelligence Unit (NFIU), and regulatory bodies aligned with the Central Bank of Nigeria (CBN). The objective, he said, is to close gaps between enforcement, compliance, and oversight, while ensuring Nigeria meets international standards on financial system integrity.
In his welcome remarks, President of the Chartered Institute of Bankers of Nigeria and Chairman of the Body of Banks, Professor Pius Olanrewaju, called for deeper collaboration between the police and the banking industry. He acknowledged the crucial role the banking sector plays in national development and stressed that its operations can only thrive in a safe and stable environment.
He commended the IGP’s leadership and reforms aimed at strengthening intelligence-led policing, operational efficiency, and stakeholder engagement. He also noted that rapid digital transformation in financial services has introduced new security complexities that require enhanced cooperation.
Similarly, Chairman of the Body of Bankers Executive, Oliver Alawuba, reaffirmed the long-standing partnership between the Bankers Committee and the Nigeria Police Force. He recalled that the Committee funded the renovation of more than 42 police stations destroyed during the EndSARS protests.
While acknowledging the significant reduction in armed robbery attacks on banks, Alawuba drew attention to the growing threat of cybercrime. He urged the police to intensify efforts in addressing digital financial crimes, describing them as the emerging frontier of criminal activity in the banking sector.
