The Economic and Financial Crimes Commission (EFCC) has entered into a strategic partnership with the Korean National Police Agency (KNPA) to intensify the fight against economic and financial crimes.
The Memorandum of Understanding (MoU) was signed on Tuesday, September 16, 2025, in Seoul, South Korea, during the 3rd International Counter-Fraud Conference themed “Global Fraud Shield: Coordinated Defense against Evolving Threats.”
The EFCC Executive Chairman, Ola Olukoyede, signed on behalf of Nigeria’s anti-graft agency, while the Deputy Commissioner General of KNPA, Park Seong-Ju, represented the Korean institution.
The MoU covers areas such as information exchange, sharing of best practices, capacity building, institutional strengthening, joint research, asset recovery coordination, public education, training exchanges, and broader international cooperation.
Speaking at the event, Olukoyede described the pact as an important milestone in his administration’s three-pronged agenda of promoting transparency, accountability, and strengthening Nigeria’s global image in the fight against corruption.
“Anti-corruption work is fundamentally about building stronger societies. 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”, Olukoyede said.
On his part, Seong-Ju praised Olukoyede’s leadership and reaffirmed KNPA’s commitment to the deal.
He noted that the agreement would foster enhanced information sharing, capacity building, and joint operations.
He commended the EFCC’s operational excellence and described Nigeria as a reliable global partner in combating international financial crimes.
Seong-Ju also recalled previous collaborations, including the 2019 visit of KNPA experts to Nigeria for digital forensics training, and revealed that the new MoU is already yielding results with an ongoing KNPA investigation linked to fraudulent activities with Nigerian connections.
The pact formalizes a bilateral commitment between Nigeria and South Korea to deepen cooperation in tackling financial crimes, reflecting a shared determination to safeguard global economies from evolving criminal threats.
