The Economic and Financial Crimes Commission (EFCC) and the National Office of Investigation of the Korean National Police Agency (KNPA) have signed a Memorandum of Understanding (MoU) to strengthen cooperation in tackling economic and financial crimes.
The agreement was sealed 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.
The MoU covers areas such as information exchange, sharing of best practices, capacity building, institutional strengthening, joint research, asset recovery coordination, public education, training exchange, international cooperation, and mutual support frameworks. It was signed by EFCC Chairman, Ola Olukoyede, and KNPA Deputy Commissioner General, Park Seong-Ju.
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According to the EFCC, the pact formalises a bilateral commitment to deepening collaboration in the fight against cross-border financial crimes.
Olukoyede, in his remarks, said the partnership aligns with his three-pronged strategic agenda of fostering economic development, enhancing transparency and accountability, and boosting Nigeria’s international reputation.
“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,” he said. “We are creating a model for how nations can collaborate effectively against crimes that know no boundaries.”
On his part, Seong-Ju commended Olukoyede’s leadership in driving the agreement, describing the MoU as evidence of EFCC’s growing international reputation for operational excellence and strategic partnerships.
“The MoU provides an enhanced platform for information-sharing, capacity-building, and joint operations. Nigeria has proven itself a reliable partner in global crime-fighting efforts, and we are confident this collaboration will strengthen both institutions,” he stated.
He also recalled Nigeria’s longstanding partnership with South Korea, noting that KNPA experts had previously visited Nigeria in 2019 to deliver training in digital forensics. He disclosed that the MoU was already yielding results, citing an ongoing KNPA investigation with Nigerian links into fraudulent transactions.
