The Nigerian government and United Kingdom have signed a new joint fraud action plan pact to strengthen their bilateral cooperation aimed at detecting, disrupting, and deterring cross-border financial crime.
A statement issued by the British High Commission in Nigeria indicated that the agreement was signed this week during a visit by the UK’s Minister for Fraud, Rt. Hon. Lord Hanson, in Abuja.
According to the commission, Lord Hanson, Nigeria’s Attorney General and Minister of Justice, Chief Lateef Olasunkanmi Fagbemi, and National Security Adviser, Nuhu Ribadu, signed a Memorandum of Understanding (MoU) on behalf of their respective governments, thereby strengthening the two countries’ partnership against financial frauds.
Under the terms of the new deal, Nigeria and UK will deepen collaboration across law enforcement, intelligence sharing, public awareness campaigns, and regulatory coordination, with a primary focus on tackling increasingly sophisticated fraud schemes that exploit international loopholes.
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Specifically, the joint fraud action plan outlines several priority areas, including, Information and intelligence sharing between the UK’s National Crime Agency (NCA) and Nigeria’s Office of the National Security Adviser; Joint law enforcement operations and performance monitoring to disrupt criminal networks early; and Collaboration between regulators in financial, online, and telecoms sectors to close gaps exploited by fraudsters.
Others are Public awareness campaigns and shared best practices for developing national fraud strategies; and Training and capacity building, starting with a targeted programme for Nigerian prosecutors by the UK’s Serious Fraud Office.
Commenting on the partnership, the British Minister said: “Fraud ruins lives. It strips people of their savings, their confidence, and their sense of security.
“Our 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,” he added.
In his remarks, Deputy Director of Fraud at the UK’s National Crime Agency, Nick Sharp, harped on the shared threat, saying that the “Memorandum of Understanding with Nigeria underscores our commitment to tackling a threat that causes significant harm to citizens of both nations. By sharing vital intelligence and conducting joint operations, we will strengthen our collective response.”
Also, Nigeria’s National Security Adviser, Nuhu Ribadu, also highlighted Nigeria’s commitment to tackling financial crimes, saying that “we must confront crime with greater seriousness, deepen collaboration, address enablers, support victims, and pursue perpetrators with unyielding commitment.”
The MoU, which builds on the momentum of the UK-Nigeria Fraud Dialogue launched in November 2024, is coming at a critical time, as fraud continues to be the most commonly experienced crime in the UK.
For instance, data on UK’s Crime Survey for England and Wales, indicated that over 4.1 million incidents were recorded in the year ending December 2024, accounting for 43% of all crimes.
In addition, the UK government noted that over 70% of fraud impacting the UK is believed to originate overseas or involve foreign elements, prompting the UK government to prioritise international cooperation in its upcoming national fraud strategy.
The UK government sees Nigeria, one of Africa’s largest economies and a strategic partner, as a key ally in the joint fight against all forms of cross-border financial crimes in both countries.
