Global Alliance: EFCC Joins Forces With Korean Police To Crush Financial Crimes

The Economic and Financial Crimes Commission (EFCC) has entered into a Memorandum of Understanding (MoU) with the National Office of Investigation, Korean National Police Agency (KNPA), to strengthen cooperation in the fight against economic and financial crimes while boosting institutional capacity.

The agreement was signed on Tuesday, September 16, 2025, in Seoul, South Korea, during the 3rd International Counter-Fraud Conference, themed “Global Fraud Shield: Coordinated Defence Against Evolving Threats,” hosted by the KNPA.

The EFCC Chairman, Ola Olukoyede, and KNPA’s Deputy Commissioner General, Park Seong-Ju, signed the pact, which covers key areas such as information exchange, sharing of best practices, capacity building, institutional strengthening, joint research, asset recovery coordination, public sensitization, training exchange, and international cooperation.

Olukoyede described the MoU as a landmark achievement that aligns with his strategic agenda of promoting economic development, transparency, accountability, and enhancing Nigeria’s international reputation.

“This partnership represents more than institutional cooperation—it reflects our shared commitment to building a safer, more transparent global financial system. It is a model for how nations can collaborate effectively against crimes that transcend borders,” he stated.

On his part, Seong-Ju hailed Olukoyede’s leadership in driving the initiative, emphasizing that the MoU underscores EFCC’s growing record of successful global collaborations. He affirmed that the deal would strengthen information sharing, training, and joint operations between Nigeria and Korea.

Recalling the strong Nigeria-Korea partnership, Seong-Ju noted that KNPA experts had previously visited Nigeria in 2019 to provide training in digital forensics. He also revealed that the MoU is already producing results, as KNPA is currently investigating a case with Nigerian links involving fraudulent activities.