The Economic and Financial Crimes Commission (EFCC) has entered into a strategic partnership with the Korean National Police Agency (KNPA) through the signing of a Memorandum of Understanding (MoU) aimed at tackling financial and economic crimes, while also boosting institutional capacity. The MoU was signed in Seoul, South Korea, during the 3rd International Counter-Fraud Conference themed “Global Fraud Shield: Coordinated Defence against Evolving Threats.”
Key focus areas include: Information exchange and sharing of best practices, Joint research collaboration and capacity building, Asset recovery coordination and international cooperation, Training exchanges and public education on fraud prevention.
A flexible mutual support platform for stronger global collaboration
The agreement was signed by Ola Olukoyede, EFCC Chairman, and Park Seong-Ju, Deputy Commissioner General of KNPA. Olukoyede described the partnership as a formal step towards strengthened bilateral cooperation in combating cross-border financial crimes. He linked the pact to his three-pronged strategic agenda of economic development focus, transparency and accountability, and enhancing Nigeria’s global image, which was endorsed by President Bola Ahmed Tinubu in 2023.
He emphasized that the fight against corruption is about building resilient societies, noting:> “This partnership represents more than just institutional cooperation. It embodies our shared commitment to creating a safer, more transparent global financial ecosystem. We are creating a model for how nations can collaborate effectively against crimes that know no boundaries.”
