Flutterwave, Africa’s premier payments technology company, is taking a monumental step in the fight against cybercrime by partnering with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish a state-of-the-art Cybercrime Research Center.
This groundbreaking initiative was formalized on June 14, 2024, through a Memorandum of Understanding (MoU) signed in Abuja. The high-profile event saw the attendance of key figures including EFCC Executive Chairman Mr. Ola Olukoyede, Flutterwave CEO Mr. Olugbenga ‘GB’ Agboola, Chief Compliance Officer Mr. Mobolaji Bammeke, FBI Director Mr. Christopher Gray, and senior officials from both the EFCC and the FBI.
Mr. Olugbenga Agboola expressed Flutterwave’s unwavering commitment, stating, “As Africa’s largest payments infrastructure company, we are dedicated to promoting secure transactions. This initiative highlights our commitment to a fraud-free financial ecosystem and our leadership in safeguarding transactions across Africa. We commend the EFCC for its relentless efforts to combat internet fraud and illicit financial activities.”
Mr. Ola Olukoyede lauded the partnership, remarking, “The EFCC is impressed with Flutterwave’s extensive reach across Africa. This collaboration marks a significant advancement in our efforts to combat financial crimes and ensure a secure financial environment for Nigerians. The Cybercrime Research Center will vastly improve our ability to prevent, detect, and prosecute financial crimes.”
The Cybercrime Research Center, to be housed at the new EFCC Academy, will serve as a nexus for advanced research, training, and capacity building in financial crime prevention. Its primary focus areas include:
- Advanced Fraud Detection and Prevention: Developing cutting-edge technologies to identify and prevent financial fraud, offering comprehensive training for law enforcement and industry professionals.
- Collaborative Research and Policy Development: Engaging in joint research initiatives and policy formulation to enhance understanding and regulation of financial crime, providing a platform for public and private sector collaboration.
- Youth Empowerment and Capacity Building: Training and equipping 500 youths with skills to excel in the digital economy, fostering a new generation of tech-savvy professionals.
- Technological Advancement and Resource Enablement: Creating a repository of advanced tools and resources to support financial crime investigations, addressing emerging threats such as cryptocurrency-related crimes.
This partnership exemplifies how public-private collaboration can effectively address financial fraud, ensuring a more secure and prosperous economy in Nigeria and across Africa. For more information, visit Flutterwave and the EFCC.
