The Inspector-General of Police, Kayode Egbetokun, yesterday, said that the traditional model of deploying conventional police personnel for routine cash-in-transit escort services would be reviewed and progressively restructured in accordance with sustainable resource management and internationally recognised best practices.

This is coming after President Bola Tinubu, on November 23, 2025, ordered the withdrawal of police attached to VIPs, with the IGP giving further direction on the withdrawal.

The IGP, who met with officials of the Chartered Institute of Bankers of Nigeria (CIBN) at the Bankers’ House, Victoria Island, Lagos, said the Nigerian banking industry is not merely a driver of economic activities but a core component of national stability architecture.

He said that the integrity, continuity, and resilience of the financial system are directly linked to public confidence, investors’ perception, and the credibility of Nigeria’s economic governance.

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

He said: “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, among others.

“These threats are adaptive, technologically sophisticated, and often coordinated across borders. The implications of these risks extend far beyond immediate institutional losses.”

“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.”

Also, President/Chairman of Council, CIBN, Prof. Tayo Deji Olanrewaju, said: “The security landscape is becoming more complex; addressing emerging risk, including cyber-related threats and financial crime, requires sustained cooperation between law enforcement agencies and the financial sector.

“The CIBN remains committed to professionalism and constructive engagement in line with the provision of Section 3 of the CIBN Act of 2007, which gave the institute mandate and power to make sure the service is standard in the banking system. We look forward to a partnership in safeguarding the Nigerian system and strengthening the foundation of our national stability.” (The Guardian)

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