IGP Partners Body of Bankers, Reaffirms Commitment to Protect Investors’ Confidence, Boost Financial Sector

Chiemelie Ezeobi

The Inspector General of Police (IGP), Mr. Kayode Egbetokun, has reaffirmed commitment of the Nigeria Police Force to collaborate closely with the banking sector to protect investors’ confidence and strengthen the stability of Nigeria’s financial sector.

The IGP, who gave this assurance during an engagement with the Chartered Institute of Bankers of Nigeria and the Body of Bankers’ Chief Executive Officers in Lagos on Thursday, said the move is expected to boost investor sentiment, which remains critical to attracting and retaining investments.

Addressing participants, Egbetokun assured the bankers of the support of the Police Force, noting that disruptions to banking operations in any part of the country could erode trust in financial channels, weaken participation in the formal economy, and expose Nigeria to reputational risks within the global compliance environment.

He stated the banking industry is not merely a driver of economic activity, but “a core component of our 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.

Egbetokun noted that in the contemporary global environment, financial security and national security have become deeply interconnected.

He said: “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.”

He explained that while conventional risks such as armed attacks on bank branches and vulnerabilities along cash movement corridors persist in some areas, they have been compounded by more complex and transnational challenges.

“These include 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,” he added.

Against this backdrop, the IGP said 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, financial inclusion, and global competitiveness.

“This requires proactive disruption of organised criminal networks rather than reactive response after harm has occurred,” he said.

He disclosed that in recent months, the Police Force has intensified operations aimed at dismantling violent crime structures, disrupting kidnapping syndicates, recovering illegal arms, and degrading organised networks whose activities threaten commercial stability.

He said: “These operational outcomes are not merely security metrics; they are foundational to the enabling environment required for business continuity, investor assurance, and sustainable economic activity.”

While highlighting the strengthened institutional coordination with key agencies, he stressed that they 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 Bankers, Professor Pius Olarenwaju, appealed for robust collaboration, stressing the pivotal role of the banking sector 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.”

He noted that the banking sector’s critical functions can only flourish in a secure and stable environment, while commending the IGP’s leadership and reforms aimed at intelligence-led policing and stakeholder partnership.

Also speaking, the Chairman of the Body of Bankers’ Executive, Mr. Oliver Alawuba, said the Bankers’ Committee has a long-standing partnership with the Nigeria Police Force.

According to him, the committee was responsible for the renovation of over 42 police stations 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.

Stakeholders at the meeting expressed optimism that the renewed partnership would help reduce financial crimes, enhance security measures, improve transparency, and ultimately restore investor confidence in Nigeria’s financial system.