• Wednesday, May 22, 2024
businessday logo


EFCC, FCCPC, sign MoU U.S Trade Commission to combat cross border fraud


The Economic and Financial Crimes Commission, (EFCC), the Federal Competition and Consumer Protection Commission (FCCPC), and the United States Federal Trade Commission, FTC, have signed an upgraded Memorandum of Understanding, MoU of cooperation in combating cross border fraud.

The MoU, which was jointly signed on October 27, 2020 by Mohammed Umar Abba, acting Chairman, EFCC; Babatunde Irukera, Executive Vice Chairman, FCCPC, and Joseph Simmons, Chairman FTC provides a framework for continuous partnership in the existing areas of cooperation – exchange of information and assistance in consumer protection investigations.

Wilson Uwujaren, head, media and publicity, disclosed that the new MoU, which is an improved version of an earlier one signed in 2013, establishes a joint implementation committee to develop joint training programmes and workshops as well as provide assistance in respect of specific investigations.

It also acknowledges the participants’ support for econsumer.gov, a joint project of agencies from 40 countries for reporting international scam online.

The EFCC is the coordinating agency for the enforcement of all economic and financial crimes laws in Nigeria. It has global network of partnerships in transnational organised crime investigation.

The FCCPC’s mandate is dealing with consumer protection issues in Nigeria, while its U.S counterpart, the FTC, promotes antitrust, consumer protection and data privacy enforcement among others.