EFCC, South Korean Police Begin Training on Asset Tracing, Cryptocurrency Investigation
The Economic and Financial Crimes Commission (EFCC) has commenced a 10-day specialised training programme on asset tracing and cryptocurrency investigation to strengthen its officers’ capacity to tackle sophisticated financial crimes.
The training, organised in partnership 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.
The EFCC Executive Chairman, Ola Olukoyede, represented by the Acting Commandant of the EFCC Academy, Assistant Commander of the EFCC, ACE I Joseph Ogwiji, said the growing use of digital financial services and virtual assets required investigators to continually improve their technical knowledge and skills.
He noted that although these technologies support legitimate economic activities, criminals could exploit them to facilitate fraud, transfer illicit proceeds and conceal their identities.
Olukoyede stressed the need for technically competent investigators capable of interpreting transaction records, tracing funds across multiple platforms and linking digital evidence to individuals under investigation, particularly in cross-border financial crime and money laundering cases.
The Consul and Police Attaché at the Embassy of the Republic of Korea in Nigeria, Eun-pyo Hong, said the programme was the first of its kind organised by the Korean Government in Africa. He added that it marked the first anniversary of a Memorandum of Understanding signed by the EFCC and the Korean National Police Agency (KNPA) in Seoul, South Korea, in October 2025.
Hong expressed satisfaction that Nigeria was hosting the initiative, describing the EFCC as one of the country’s respected law enforcement institutions.
The agreement, signed by Olukoyede and the KNPA Deputy Commissioner General, Park Seong-Ju, provides for information exchange, sharing of best practices, capacity building, institutional strengthening, research collaboration, asset recovery coordination, training exchanges and broader international cooperation.
The leader of the Korean training team from the Korean Police Investigation Academy, Woosung Kwon, alongside Inspector Kim Sung Jae and Sergeant Jung Youngmo, thanked the EFCC management for its hospitality and cooperation.
Kwon observed that financial crime was evolving rapidly, with criminals increasingly using cryptocurrency, cross-chain tools and the dark web to conceal illicit funds. He stressed that effective cooperation between law enforcement agencies was essential because cryptocurrency-related crimes transcend national borders.
He said the training would feature practical sessions on open-source investigation techniques, cryptocurrency tracing, asset seizure and the preparation of digital evidence for court proceedings.
The Head of External Cooperation at the EFCC, Aliyu Wali, represented by Assistant Commander of the EFCC, ACE II Michael Kayang, said strengthening investigators’ capacity to trace and analyse virtual asset transactions was essential to combating technology-enabled financial crimes and recovering proceeds of crime.
Wali urged participants to maximise the opportunity, engage actively with their South Korean counterparts and apply the knowledge acquired to their operational responsibilities.
EFCC, South Korean Police Begin Training on Asset Tracing, Cryptocurrency Investigation