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Integrated Cash Management Services Ltd (ICMS)

Nigeria is one of the largest cash economies in the world. This places a lot of pressure on banks in terms of cash management, specifically in the areas of cost management and risk management. Within this context, Integrated Cash Management Services Limited (ICMS) provides services to assist the Nigerian banks in managing their risks within the cash supply chain.

ICMS is the result of a 50% joint venture between XL Cash Management Services Ltd (XLCMS), a Nigerian CIT company, and SBV Services (Pty) Ltd.

Our core business is to manage the risk and cost inherent to the Nigerian cash supply chain by providing the following services:

  • Moving of cash: Cash In Transit
  • Holding of cash: Vault management / cost of funds
  • Processing of cash: Sorting, processing, packing

Backed up by SBV's expertise and portfolio of shareholders, ICMS works in collaboration with the banks to decrease costs and to mitigate risk. This is achieved by means of a holistic focus on the entire cash supply chain.


Cash In Transit is an internationally recognised business practice that requires specialized resources to effectively and efficiently manage the risks inherent to the industry. In Nigeria, the Cash In Transit industry is a growing one that presents its own unique challenges. ICMS has the industry expertise to provide a professional Cash In Transit solution to its customers.

Our resources include:
  • Professional staff training and deployment
  • CIT related policies and procedures
  • Risk cover
  • Technologically advanced vehicles
  • Effective vehicle deployment and maintenance
  • Risk management
  • Operational intelligence
  • Sophisticated systems
  • Collaboration with the Nigerian Police Force.
ICMS currently provides services in the following areas:
  • Lagos
  • Ibadan
  • Benin
  • Akure
  • Abuja
  • Kano
  • Kaduna
  • Katsina
  • Sokoto
  • Port Harcourt
  • Calabar
  • Enugu
  • Warri
  • Owerri
  • Aba
  • Uyo
  • Asaba
  • Abeokuta
  • Oshogbo
  • Gombe
  • Makurdi
  • Minna
  • Ilorin
  • Onitsha
  • Jos
  • Bauchi
  • Yola
  • Ado Ekiti
  • Keffi
  • Akwanga
  • Lafia
  • Bukuru
  • Mubi
  • Jalingo
  • Lokoja
  • Ikom

Our Vision

To be the preferred, commercially independent, industry supply chain experts in moving, holding and processing items of high intrinsic value, in an integrated manner, for the Nigerian market.

Our Mission

ICMS is the leading provider of secure, cost efficient solutions and services for the processing, moving and managing of cash assets and other items of high intrinsic value. We are the trusted and preferred partner of the banking industry in Nigeria.

Contact us:

Land Line: +234 (1) 4628786
Fax: +234 (1) 4616877

Physical Address:

Plot 883
Samuel Manuwa Street
Victoria Island

Physical Address:

PO Box 72935
Victoria Island

ICMS Board of Directors
Chief J O Sanusi {CON}-Chairman, Board of Directors
Charles Nwodo Jnr.-Vice Chairman
Grant Dunnington-Director
Alhaji Muhammad Yahaya-Director
Hajiya Maryam Shagari-Director
Chris Ras-Director
Edmund Leon Jacobs-Managing Director/Chief Executive Officer
Emma Disi-Okorogri-ED. CIT Operations
Andrew Meerburg -Director
Ike Egboga-Director
Seun Bamisile-ED, Business Dev. and Strategy
Alhaji Muhammad Makarfi-Director
Hajiya Maryam Shagari-Director
Lateef K. Babatunde-Chief Financial Officer
Ezinne Ekekwe -Company Secretary
Crime & Intelligence Reporting calls can be made 24/7 to
083 408 7029
All information will be dealt with professionally and with strict confidentiality.