EFCC Seals Historic Pact With Korean Police To Crush Global Financial Crimes

The Economic and Financial Crimes Commission (EFCC) has entered into a landmark partnership with the National Office of Investigation, Korean National Police Agency (KNPA), through the signing of a Memorandum of Understanding (MoU) aimed at tackling economic and financial crimes while strengthening institutional capacities.

According to Ireporter Online, 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 Defence against Evolving Threats,” hosted by the Korean National Police Agency.

The MoU, signed by EFCC Chairman Ola Olukoyede and KNPA Deputy Commissioner General Park Seong-Ju, covers key areas such as intelligence sharing, exchange of best practices, institutional development, training, asset recovery coordination, research collaboration, public enlightenment, and the establishment of flexible cooperation platforms.

Olukoyede explained that the pact aligns with his strategic agenda centered on economic development, transparency, accountability, and strengthening Nigeria’s global image, as outlined in the three-point framework he unveiled upon his appointment by President Bola Ahmed Tinubu in 2023. He emphasized that the partnership goes beyond institutional ties, describing it as a collective effort to build a more transparent and secure international financial system.

Seong-Ju, in his remarks, commended Olukoyede’s leadership in driving the initiative, noting that the agreement reflects EFCC’s growing reputation as a trusted global partner in law enforcement collaborations. He highlighted the long-standing ties between Nigeria and South Korea, recalling KNPA’s previous visit to Nigeria in 2019 to provide training in digital forensics.

The Korean police chief further revealed that the MoU is already yielding results, citing an ongoing KNPA investigation with Nigerian links involving fraudulent financial activities. He pledged that the partnership would enhance joint operations, capacity-building programs, and cross-border information sharing in the fight against financial crimes.