The Police Special Fraud Unit (PSFU), Lagos, has intensified efforts to curb financial crimes by engaging with key regulatory bodies and financial institutions in a strategic meeting aimed at strengthening collaboration in combating fraud.
The session, held on Thursday, September 18, 2025, brought together representatives of the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Nigeria Inter-Bank Settlement System Plc (NIBSS), as well as compliance and legal officers from banks and FinTech companies.
Commissioner of Police, PSFU, CP Rose Chollom Dung, reaffirmed the Unit’s dedication to working closely with stakeholders to tackle the growing sophistication of fraud and financial crimes in Nigeria. She expressed concern over the recurring challenges hampering investigations, including delays in responses to official requests, bureaucratic bottlenecks in urgent cases, and the unprofessional act of tipping off suspects.
Other issues raised included inadequate real-time information sharing and occasional lapses in inter-agency collaboration, which the Commissioner said often affect the efficiency and effectiveness of fraud investigations. She stressed the need for stronger partnerships, improved compliance culture, and a united front in safeguarding the integrity of Nigeria’s financial system.
At the end of the meeting, participants renewed their commitment to deepen collaboration with the PSFU, strengthen compliance practices, and establish faster channels for response and information exchange. Stakeholders agreed that such measures are vital in building robust mechanisms to curb financial crimes and protect the nation’s banking and financial sector.