Nigeria and UK partner to fight financial crimes

Nigeria and the UK have formalised a new partnership to intensify efforts against fraud and financial crime, following the signing of a memorandum of understanding and joint action plan by both nations in Abuja, notes a report in Punch. UK Minister for Fraud, Lord Hanson and Nigeria's Attorney-General, Minister of Justice Lateef Fagbemi and the National Security Adviser Nuhu Ribadu signed the agreement during a high-level meeting held this week. According to a statement issued by the British High Commission, the agreement aims to enhance intelligence sharing, joint investigations, and co-ordinated actions to combat rising fraud threats targeting both countries. The deal came amid growing concern over the international dimensions of fraud, with UK officials estimating that more than 70% of fraud impacting the country originates or involves actors based overseas. ‘This new agreement with Nigeria will help us better identify and stop fraud before it happens, crack down on criminals who exploit our systems, and ultimately protect the public.’ Key areas of collaboration include intelligence sharing between the UK’s National Crime Agency and Nigeria’s Office of the National Security Adviser, joint law enforcement operations, and regulatory co-ordination across financial, telecom and digital sectors. The partnership will also facilitate joint training programmes, beginning with targeted support for Nigerian prosecutors from the UK’s Serious Fraud Office, and foster shared research into emerging fraud tactics, including the abuse of technology and artificial intelligence.

Full Punch report