The Economic and Financial Crimes Commission (EFCC) has entered into a strategic partnership with the National Office of Investigation of the Korean National Police Agency (KNPA), aimed at strengthening cooperation in the global fight against economic and financial crimes.
The Memorandum of Understanding (MoU) was signed on Tuesday, September 16, 2025, during the 3rd International Counter-Fraud Conference in Seoul, themed “Global Fraud Shield: Coordinated Defense against Evolving Threats.” EFCC Chairman, Ola Olukoyede, and KNPA Deputy Commissioner General, Park Seong-Ju, endorsed the agreement on behalf of their respective agencies.
The pact focuses on information exchange, sharing of best practices, capacity-building, joint research, asset recovery coordination, training initiatives, and sustained international collaboration. Both agencies emphasized that the agreement goes beyond technical cooperation, representing a shared commitment to building resilient financial systems and safeguarding societies against cross-border fraud.
Speaking at the event, Olukoyede described the MoU as a reflection of EFCC’s broader agenda under President Bola Ahmed Tinubu’s administration to advance transparency, accountability, and global confidence in Nigeria’s institutions. He noted, “This partnership represents more than just institutional cooperation; it embodies our shared commitment to creating a safer, more transparent global financial ecosystem. We are building a model for how nations can work together effectively against crimes that know no boundaries.”
In his remarks, Park Seong-Ju commended Olukoyede’s leadership and described the EFCC as a trusted partner in the global fight against financial crimes. He said the pact would serve as a platform for enhanced information-sharing, capacity development, and coordinated operations. Seong-Ju also highlighted the historical ties between Nigeria and Korea, recalling that KNPA experts had visited Nigeria in 2019 to support digital forensic training.
Officials confirmed that the collaboration is already bearing fruit, with the KNPA currently investigating a case with Nigerian links involving fraudulent financial activities.
The MoU is expected to boost confidence in both countries’ anti-corruption systems while reinforcing global partnerships against the growing sophistication of economic crimes.
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