Nigeria Police Partner Bank Executives to Strengthen Financial Security
By Trek Africa Newspaper
Nigeria Police Partner Bank Executives to Strengthen Financial Security – IGP Egbetokun Meets Banks Executives…
The Chartered Institute of Bankers of Nigeria (CIBN), in collaboration with the Body of Banks’ CEOs, hosted an engagement with the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, in Lagos.
The meeting, according to a statement by the Force Public Relations Officer, Ag. ACP Benjamin Hundeyin, and made available to the National Association of Online Security News Publishers (NAOSNP), reinforced the shared commitment to safeguarding Nigeria’s financial system as a critical pillar of national stability and economic growth.
In his remarks, the IGP underscored the strong nexus between financial security and national security, noting that the resilience of banking operations is central to investor confidence and Nigeria’s global credibility. He highlighted the evolving threat environment, emphasizing that beyond traditional risks such as armed attacks, the sector now faces increasingly sophisticated challenges, including cyber-enabled fraud, identity compromise, insider facilitation, and illicit financial flows.
To address these risks, the Nigeria Police Force continues to advance an intelligence-led approach to protecting financial infrastructure. The IGP referenced recent operations that dismantled violent crime networks, disrupted kidnapping syndicates, and recovered illegal arms, thereby strengthening the enabling environment for business continuity. He further noted his recent engagements with the Director-General of the Securities and Exchange Commission (SEC) in Abuja and the Nigeria Exchange Group (NGX), both aimed at enhancing financial system integrity and investor protection.
In line with the Nigeria Police Act, 2020, the Force is enhancing the recruitment, training, and deployment of Supernumerary Police Officers (Spy Police) to meet the specialized security needs of banks and other critical financial institutions.
IGP Kayode Adeolu Egbetokun, Ph.D, NPM, reaffirmed the Nigeria Police Force’s commitment to working closely with the banking sector as a strategic partner in safeguarding the stability, integrity, and international reputation of Nigeria’s financial architecture.
Banking Leaders Applaud Security Gains
Earlier, Chairman of the Body of Bank CEOs and Group Managing Director of United Bank for Africa, Oliver Alawuba, commended the IGP Egbetokun’s leadership and reforms.
“We have seen that banking branches are safer under your leadership,” Alawuba said. “A safe banking industry is critical for the economy to grow.”
He noted a visible reduction in violent crimes and attacks on bank branches, describing the improvement as encouraging for business continuity.
Alawuba also praised internal reforms within the Police Force, including:
The upgrade of the Police Medical Department to a Directorate.
Payment of ₦2.1 billion in insurance benefits to families of fallen officers.
Mentorship and inclusivity programmes.
Improved professionalism and accountability
“We appreciate the work your officers are doing, even when we are safe in our homes,” he said.
He disclosed that the banking industry has supported security institutions over the years, including:
Upgrading 44 police facilities nationwide
Contributing to Lagos State Security Trust Fund
Providing financial and logistical support to security initiatives in various states
“No government can do it alone,” he added. “Collaboration is essential.”
