Police intensify intelligence-led operations to protect banking sector from rising cybercrime threats
The IGP cyber fraud offensive Nigeria has entered a new phase following the declaration by the Inspector-General of Police, Kayode Egbetokun, that the country’s banking sector constitutes a critical national security asset requiring stronger protection against digital financial crimes.
Speaking during a strategic engagement with stakeholders in the financial industry, the police chief said the growing sophistication of cyber-enabled crimes has made financial system protection a national priority. He explained that threats to banking operations now extend beyond traditional criminal activities to complex digital fraud schemes capable of undermining economic stability and public confidence.
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Under the IGP cyber fraud offensive Nigeria initiative, the Nigeria Police Force is adopting intelligence-driven strategies designed to proactively disrupt cybercrime networks. These include enhanced monitoring, improved intelligence sharing with financial institutions, and coordinated enforcement actions aimed at preventing insider compromise, identity theft, and electronic fraud.
Egbetokun emphasised that safeguarding banks is essential to maintaining investor confidence and sustaining Nigeria’s economic credibility. He warned that disruptions within the banking system could have far-reaching consequences for national security and economic growth.
The police leadership also disclosed that ongoing internal reforms include reviewing the traditional deployment of officers for routine private-sector security assignments, with the objective of establishing more professional and sustainable security arrangements within the financial sector.
The IGP cyber fraud offensive Nigeria forms part of broader efforts by law enforcement authorities to strengthen financial security infrastructure and curb cybercrime across the country.