In a move aimed at bolstering the stability of the financial sector, the Inspector-General of Police (IGP) has reaffirmed the commitment of the Nigeria Police Force to collaborate with bankers in protecting investors’ confidence.
The IGP’s statement comes at a time when the country’s financial sector is seeking to regain momentum following a period of economic uncertainty.
The police chief’s assurance is expected to provide a much-needed boost to investor sentiment, which is critical for attracting and retaining investments in the sector.
The IGP gave the assurance during an engagement with the Chartered Institute of Bankers of Nigeria and the Body of Bankers’ Chief Executive Officers in Nigeria in Lagos on Thursday.
The IGP’s pledge has been welcomed by stakeholders in the financial sector, who see it as a critical step towards restoring confidence in the sector.
The bankers, in particular, have expressed optimism that the partnership would help reduce the incidence of financial crimes, which have been a major concern for investors in recent times.
The collaboration between the police and bankers is expected to have far-reaching implications for the financial sector, including enhanced security measures, improved investor confidence, and increased transparency in financial transactions. As the country’s financial sector continues to evolve, the partnership between the police and bankers is likely to play a critical role in shaping its future.
Speaking at the meeting, the IGP stated that the police force is ready to work closely with bankers to identify and prevent financial crimes, such as fraud and money laundering.
Egbetokun assured the body of bankers of the support of the Force, noting that disruptions of banking operations in any part of the country can erode trust in financial channels, weaken participation in the formal economy, and expose the country to reputational vulnerabilities within the global compliance environment.
Egbetokun stated that the banking industry is not merely a driver of economic activity but a core component of national stability architecture.
According to him, the integrity, continuity, and resilience of the financial system are directly linked to public confidence, investor perception, and the credibility of Nigeria’s economic governance.
He noted that in the contemporary global environment, financial security and national security have become deeply interconnected.
“The strength of payment systems, the stability of banking operations, and the robustness of compliance frameworks now shape not only domestic prosperity but also Nigeria’s standing within the international financial ecosystem.
“It is essential that the protection of our financial architecture is approached as a shared national priority requiring structured partnership between law enforcement, regulators, and financial institutions. The threat landscape confronting the banking sector has evolved significantly.
“Conventional risks such as armed attacks on branches and vulnerabilities along cash movement corridors persist in certain areas. However, these have been compounded by more complex and increasingly transnational challenges, including cyber-enabled fraud, identity compromise, insider facilitation, organised financial crime, and illicit financial flows.
“These threats are adaptive, technologically sophisticated, and often coordinated across borders.
“The strength of a nation’s enforcement and security architecture is now directly relevant to investor confidence and market stability. Against this backdrop, the Nigeria Police Force is implementing a deliberate strategic shift towards intelligence-led financial infrastructure protection. Our objective is to ensure that Nigeria’s financial system remains secure, trusted, and resilient, while supporting the broader national agenda of economic growth and financial inclusion.
“This requires proactive disruption of organised criminal networks rather than reactive response after harm has occurred. Over recent months, the Nigeria Police Force has intensified operations aimed at dismantling violent crime structures, disrupting kidnapping syndicates, recovering illegal arms, and degrading organised networks whose activities directly threaten commercial stability,” he said.
Speaking further, he said the operational outcomes are not merely security metrics but foundational to the enabling environment required for business continuity, investor assurance, and sustainable economic activity.
“We have strengthened institutional coordination with key actors within Nigeria’s financial integrity and enforcement architecture, including the Economic and Financial Crimes Commission, the Nigeria Financial Intelligence Unit, and regulatory structures aligned with the Central Bank of Nigeria. The collective objective is to ensure that criminal enterprises do not exploit gaps between enforcement, compliance, and oversight, and that Nigeria continues to demonstrate credible alignment with international expectations on financial system integrity.”
In his welcome address, the President of the Chartered Institute of Bankers of Nigeria and the Body of Banks, Professor Pius Olarenwaju, appealed to the IGP for robust collaboration, noting that the banking sector plays a pivotal role in Nigeria’s economic development.
“We sincerely appreciate your presence and the opportunity to further strengthen collaboration between the Nigeria Police Force and the banking industry.
“At a time when national security and economic resilience are closely intertwined, this engagement is both timely and strategic. The banking sector, as you may be aware, plays a pivotal role in Nigeria’s economic development, and our critical functions can only flourish in a secure and stable environment.
“We therefore commend your leadership and the ongoing reforms aimed at enhancing intelligence-led policing, operational effectiveness, and stakeholder partnership. As financial services continue to evolve, particularly with rapid digital transformation, the security landscape is also becoming more complex.”
Also speaking, the Chairman of the Body of Bankers’ Executive, Oliver Alawuba, explained that the Bankers’ Committee has always partnered with the Nigeria Police Force.
According to him, the Bankers’ Committee was responsible for the renovation of over 42 police stations that were destroyed during the EndSARS protests.
“I want to assure you of our support. However, though armed robbery attacks on banks have reduced, a new type of crime is emerging, and that is cybercrime. We appeal to you to also focus on this type of crime,” he said.
