Inspector-General of Police, Kayode Egbetokun, has announced a new security framework that will see specially trained Supernumerary (SPY) police officers deployed to protect banks and critical financial infrastructure nationwide.

Egbetokun unveiled the strategy during a meeting with the Chartered Institute of Bankers of Nigeria (CIBN) and the Body of Banks’ Chief Executive Officers in Lagos, stating that the Nigeria Police Force will gradually discontinue the routine deployment of regular officers for personal escort and non-essential VIP protection within the private sector, including banks.

Under the new model, conventional police personnel will no longer handle routine cash-in-transit escorts. Instead, trained SPY Police will be recruited, certified and deployed to provide specialised protection services to financial institutions, in line with the Nigeria Police Act, 2020.

The IGP said the reform aims to optimise police manpower while strengthening security around banking operations, including cash-in-transit services, strategic infrastructure and sensitive financial activities. He added that the officers will operate under police supervision and, where approved, may be authorised to bear arms.

Egbetokun stressed that the move forms part of intelligence-led policing efforts to combat cyber fraud, identity theft, organised financial crime and illicit financial flows. He warned that disruptions to banking operations could undermine public confidence and economic stability.

He also disclosed enhanced collaboration with the EFCC, NFIU and regulators aligned with the CBN, while urging prompt reporting of financial crimes to improve enforcement outcomes.

Chairman of the Body of Banks’ CEOs and UBA Group Managing Director, Oliver Alawuba, commended the police for improved security, noting a decline in attacks on bank branches. CIBN President, Prof. Pius Deji Olanrewaju, described the engagement as strategic and reaffirmed the institute’s commitment to professionalism and industry collaboration.