The Economic and Financial Crimes Commission (EFCC) has signed a Memorandum of Understanding (MoU) with the National Office of Investigation, Korean National Police Agency (KNPA), to enhance cooperation in the fight against economic and financial crimes.
The anti-graft agency, in a statement on its Facebook page on Saturday, said the agreement was finalised in Seoul, South Korea, during the 3rd International Counter-Fraud Conference.
The MoU, signed by EFCC Chairman Olukoyede and KNPA’s Deputy Commissioner General, Park Seong-Ju, focuses on several key areas.
These include Information exchange and best practices sharing, capacity building and training exchanges, joint research collaboration, coordination on asset recovery and public education initiatives.
Olukoyede stated that the partnership directly supports his strategic vision of focusing on economic development, promoting transparency, and improving Nigeria’s international image.
He highlighted that the agreement is more than a simple institutional pact, but a “shared commitment to creating a safer, more transparent global financial ecosystem.” He believes the collaboration will serve as a model for how nations can effectively combat transnational crimes.
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In his remarks, Deputy Commissioner General Park Seong-Ju praised Olukoyede’s leadership in finalising the MoU, which he sees as a testament to the EFCC’s successful partnerships with law enforcement agencies worldwide.
He noted that Nigeria has a strong reputation as a reliable partner in international crime-fighting and commended the EFCC’s operational excellence.
Seong-Ju also recalled the history of cooperation between Nigeria and South Korea, mentioning that KNPA experts had previously provided digital forensics training in Nigeria in 2019.
The benefits of this new agreement are already being realised, as an ongoing KNPA investigation into fraudulent activities with links to Nigeria is currently underway.
