EFCC, Korean National Police sign MoU to strengthen fight against financial crimes
The Economic and Financial Crimes Commission (EFCC) of Nigeria and the Korean National Police Agency (KNPA) have signed a Memorandum of Understanding (MoU) to strengthen cooperation in combating economic and financial crimes.
The agreement was signed on Tuesday, September 16, 2025, during the 3rd International Counter-Fraud Conference held in Seoul, South Korea. The conference, hosted by the KNPA, was themed “Global Fraud Shield: Coordinated Defense Against Evolving Threats.”
The MoU outlines key areas of collaboration including information exchange, best practices sharing, capacity building, institutional strengthening, research cooperation, asset recovery, public education, joint training, and enhanced international cooperation. It was signed by EFCC Chairman, Mr. Ola Olukoyede, and KNPA Deputy Commissioner General, Mr. Park Seong-Ju.
Speaking at the signing, Mr. Olukoyede stated that the agreement aligns with his strategic objectives of promoting economic development, entrenching transparency and accountability, and enhancing Nigeria’s global image — core elements of his three-point agenda introduced in 2023 under President Bola Ahmed Tinubu’s administration.
“Anti-corruption efforts are about building resilient societies,” Olukoyede said. “This partnership represents more than institutional collaboration — it is a shared commitment to a transparent and secure global financial system. We are creating a model for cross-border cooperation against crimes that know no boundaries.”
Mr. Seong-Ju commended the EFCC’s leadership and global partnerships, noting that the MoU would provide a solid platform for intelligence sharing, capacity building, and coordinated enforcement efforts. He described Nigeria as a reliable international partner in law enforcement and praised the EFCC’s operational efficiency.
He also recalled the longstanding Nigeria-Korea partnership, referencing the KNPA’s 2019 visit to Nigeria, during which its experts supported local law enforcement agencies in digital forensics training and capacity development.
Both agencies confirmed that the partnership is already yielding results, citing an ongoing KNPA investigation involving Nigerian-linked fraudulent activities. The MoU is expected to further enhance joint efforts against transnational financial crimes and reinforce the commitment of both countries to global anti-corruption standards.
