• Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Facebook X (Twitter) Instagram
Saturday, October 17
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram
Oriental News Nigeria
NRS Tax campaign
  • Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Oriental News Nigeria
Home»Banking & Finance»Money Market»Lagos Police Warn Banks On Illegal Operations Of Bullion Vans 
Money Market

Lagos Police Warn Banks On Illegal Operations Of Bullion Vans 

By orientalnewsngDecember 5, 2020No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Hyacinth Chinwe

The Commissioner of Police, Lagos State, has frowned at the lackadaisical attitudes of banks and financial institutions in Lagos State to the security of bank facilities and cash in transit.

The Commissioner of Police, at a meeting held on Tuesday 1st December, 2020, with Banks and Cash In Transit officials, at the conference hall of the Police Command, GRA, Ikeja,  kicked against conspiracy, security lapses and unprofessionalism suspected to have been exhibited by banks and CIT officials in the attacks on bullion vans in Lagos State recently.

In particular, the Commissioner referred to the attack on a bullion van at Langbasa- Ajah Area of Lagos State recently, where there was no adequate and/or official deployment of men for such movement. The two Policemen allegedly on the escort movement were procured illegally and without the knowledge of the Command. This kind of a movement is condemned and unacceptable in totality”.

He therefore ordered that henceforth, adequate security must be provided for their facilities and movement of cashes (cash in transit) after due approval for such movement by the Commissioner of Police as the police command will no longer tolerate any kangaroo security arrangement for cash in transit in the state.

He also directed that Standard Operating Procedure on Species Escort (movement of valuables) must be sustained; noting that there must be minimum of two (2) operational vehicles conveying fully armed policemen escorting a bullion van which must be fully armoured.

Similarly, in compliance with traffic rules, the Commissioner of Police  strongly warned them against driving on One Way and BRT corridors, driving of bullion vans  without or with covered number plates, breaking of traffic light and reckless driving on highways. He further warned that bullion vans must be roadworthy and standardised by the State Commands Transport Officer.

CP Hakeem Odumosu then ordered Area Commanders, DPOs and Heads of Departments to henceforth stop and contravene any bullion van on movement without due compliance with the stipulated security arrangements and traffic regulations in the state.  He also warned the Commanding Officers of Police Mobile Force in the state to desist from deploying men to banks and financial institutions without due approval of the Commissioner of Police.

In addition, CP Hakeem Odumosu encouraged banks to fortify security in their facilities by installing more sophisticated CCTV cameras that have 100 day recording capacity so as to have a backup and source of evidence in police investigation of any incident within their areas of responsibility.

At the end of the meeting, CP Hakeem Odumosu formed a committee for the implementation of the rules and regulations of providing security to banks, financial institutions and movement of valuables (cashes) within the state. The committee comprises the Deputy Commissioner of Police, Department of Operations, DCP Mohammed Ali, Officer in Charge of Bank Guards, Lagos State Command, two of the Chief Security Officers of the bankers and two representatives of the Cash In Transfer firms.

Share this:

  • Share
  • Email a link to a friend (Opens in new window) Email
  • Tweet
  • Share on Reddit (Opens in new window) Reddit
orientalnewsng

Related Posts

Africa’s 2026 Economic Growth To Rise By 4.3% In 2026 By World Bank 

October 7, 2026

Stanbic IBTC Asset Management: financial literacy is only half the strategy

September 7, 2026

FICAN Conference To Convene Industry Leaders As Summit Aims To Highlight Banking Recapitalisation, Tax Reform

August 18, 2026

Leave A Reply Cancel Reply

The latest
  • Lagos State Governor Sanwo-Olu In Ekiti For Oyebanji’s 2nd Term Inauguration 
  • Dufil Prima Foods Offers N3 Million, Products To National Association Of The Blind And Visually Impaired Persons 
  • Nigerian Navy Seizes 114,509 Liters Of Suspected Stolen Petroleum Products 
  • Ecobank Marks 14th Ecobank Day Across Nigeria, Empowering Students with Digital Skills for the Future
  • Tinubu Eulogizes Energy Commission DG Mustapha Abdullahi On NBBF Presidency Election 
  • NiMet, TomorrowNow strengthens Climate Advisories For Nigerian Farmers 
  • INEC Gets New Commissioners And Resident Electoral Commissioners 
  • First Bank, Guarantee Trust Bank, UBA, Other Commits $4.1 Billion In Financing Capacity For Renaissance Energy Contractors 
  • EU $15.8 Million Agreement To Boost Nigeria’s Fiber Optic Infrastructure Initiative 
  • Dorman Long Engineering: Advancing Nigeria’s Local Content Agenda Through Industrial Capability
Categories
Quick Links
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Copyright © 2026 Oriental News Nigeria. All right reserved.

Type above and press Enter to search. Press Esc to cancel.