The Economic and Financial Crimes Commission has commenced a 10-day specialised training programme aimed at equipping its investigators with advanced skills in cryptocurrency investigations and asset tracing, as financial crimes increasingly involve digital assets and cross-border transactions.
The programme, organised in collaboration with the South Korean Police, began on Tuesday, October 13, 2026, at the EFCC Academy in Karu, Abuja, with more than 30 commission operatives participating.
EFCC Chairman Ola Olukoyede, represented by the Acting Commandant of the academy, Assistant Commander of the EFCC Joseph Ogwiji, said investigators must continually update their technical knowledge to keep pace with the growing use of digital financial services and virtual assets.
He noted that although these technologies support legitimate economic activities, criminals could exploit them to facilitate fraud, move illicit proceeds and conceal their identities.
Olukoyede stressed that effective investigations required technical expertise and strict adherence to lawful procedures.
He added that the increasingly cross-border nature of financial crimes made it essential for investigators to interpret transaction records, track funds across multiple platforms and link digital evidence to individuals under investigation.
The Consul and Police Attaché at the Embassy of the Republic of Korea in Nigeria, Eun-pyo Hong, described the programme as the first of its kind organised by the Korean government in Africa.
Hong said the initiative also marked the first anniversary of a memorandum of understanding signed by the EFCC and the Korean National Police Agency in Seoul, South Korea, in October 2025.
He expressed satisfaction that Nigeria was hosting the inaugural African programme, describing the EFCC as one of the country’s prominent law enforcement institutions.
The agreement, signed by Olukoyede and the KNPA Deputy Commissioner General, Park Seong-Ju, provides a framework for cooperation in information exchange, training, asset recovery, institutional development, research, public education and other areas of law enforcement collaboration.
Leading the South Korean delegation, Woosung Kwon of the Korean Police Investigation Academy, alongside Inspector Kim Sung Jae and Sergeant Jung Youngmo, commended the EFCC management and organisers for their hospitality and cooperation.
Kwon said financial criminals were increasingly turning to cryptocurrency, cross-chain tools and the dark web to conceal illicit funds, making international cooperation essential to effective investigations.
He explained that the training would combine theoretical instruction with practical exercises covering open-source investigation techniques, cryptocurrency tracing, asset seizure and the preparation of evidence for court proceedings.
Also speaking, the EFCC Head of External Cooperation, Aliyu Wali, said strengthening investigators’ ability to trace and analyse virtual asset transactions was increasingly important in tackling technology-enabled financial crimes and recovering criminal proceeds.
Wali, who was represented by Assistant Commander of the EFCC Michael Kayang, urged participants to make full use of the programme by engaging with their South Korean counterparts and applying the skills acquired to their investigative duties.
The initiative forms part of efforts by the EFCC and its South Korean partners to strengthen technical capacity and international cooperation in responding to evolving financial crime threats.
