CIBN and Police Force Unite Against Banking Cybercrime

The Chartered Institute of Bankers of Nigeria (CIBN) and the Nigeria Police Force have strengthened their collaboration to address the increasing threat of cybercrime in the banking sector. This engagement took place in Lagos on a Friday and involved discussions among bank chief executives and Inspector General of Police Kayode Egbetokun.

The focus was on strategies to safeguard Nigeria's financial system against emerging risks associated with cyber-enabled fraud. CIBN President Mr.

Oliv Alawuba emphasized the necessity for a secure and stable environment for financial institutions, especially amid rapid digital transformation that increases exposure to cyber-related threats. He reaffirmed the institute's commitment to professional ethics and regulatory standards.

IGP Egbetokun highlighted the critical role of the banking industry in national stability and security, noting that cybercrime poses a sophisticated threat capable of undermining public confidence and damaging Nigeria's reputation in the global financial system. He disclosed that the Nigeria Police Force is implementing intelligence-led policing strategies to proactively disrupt organized cybercriminal networks.