The Economic and Financial Crimes Commission (EFCC) 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 formalized 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”, hosted by the KNPA.
EFCC Chairman, Ola Olukoyede, and KNPA Deputy Commissioner General, Park Seong-Ju, signed the MoU, which covers information exchange, capacity building, asset recovery, training, institutional strengthening, joint research, and public education.
Olukoyede described the partnership as a milestone in his three-pronged agenda of promoting economic development, accountability, and enhancing Nigeria’s global reputation. “This partnership represents more than just institutional cooperation; it embodies our shared commitment to creating a safer, more transparent global financial ecosystem,” he said.
Seong-Ju praised Olukoyede’s leadership, highlighting Nigeria’s growing reputation as a reliable partner in global anti-crime efforts. He noted that the MoU builds on a longstanding relationship, recalling KNPA’s digital forensics training in Nigeria in 2019. He also disclosed that the pact is already yielding results, citing an ongoing KNPA investigation involving Nigerian-linked financial crimes.
The agreement formalizes bilateral commitment to coordinated international efforts in tackling financial and economic crimes.
