The United Kingdom and Nigeria have solidified a landmark agreement aimed at intensifying joint efforts to combat financial crime and transnational fraud, through the signing of a Memorandum of Understanding (MoU) and a coordinated Action Plan in Abuja.
The pact, formalised during a high-level meeting this week, was signed by UK Minister for Fraud, Lord Jonathan Hanson; Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi, SAN; and National Security Adviser, Nuhu Ribadu.
According to a statement released by the British High Commission on Thursday, the agreement will bolster intelligence sharing, facilitate joint investigations, and enable coordinated law enforcement actions targeting sophisticated fraud networks that operate across borders.
Lord Hanson described the deal as a significant step forward in tackling the global threat of financial crime. “More than 70 per cent of fraud affecting the UK involves international actors,” he noted. “This new agreement with Nigeria strengthens our ability to stop fraud before it starts, bring perpetrators to justice, and protect citizens in both our countries.”
Key pillars of the agreement include collaboration between the UK’s National Crime Agency (NCA) and Nigeria’s Office of the National Security Adviser (ONSA), joint enforcement operations, and enhanced regulatory cooperation across finance, telecoms, and digital sectors.
In a bid to build institutional capacity, the partnership will also launch joint training initiatives—starting with specialised support for Nigerian prosecutors from the UK’s Serious Fraud Office—as well as shared research projects into emerging threats, including the misuse of technology and AI in fraud schemes.
National Security Adviser Nuhu Ribadu welcomed the accord as a reinforcement of bilateral security ties. “We are building on past cooperation to confront evolving threats with renewed urgency—disrupting enablers, supporting victims, and ensuring perpetrators are held accountable,” he said.
The agreement builds on the foundation laid by the UK-Nigeria Fraud Dialogue, launched in November 2024, and comes as both nations grapple with rising financial crime. According to the UK’s Crime Survey for England and Wales, fraud remains the most prevalent offense, with over 4.1 million cases reported in 2024, costing victims an estimated £6.8 billion.
Beyond financial losses, authorities have warned of the severe psychological and emotional toll on victims, particularly in crimes such as financially motivated sexual extortion.
Nick Sharp, Deputy Director of Fraud at the NCA, stressed the necessity of international collaboration. “Fraud is borderless. By sharing intelligence and executing joint operations, we will strengthen our global defences and bring fraudsters to justice—wherever they are,” he said.
This MoU marks a new chapter in UK-Nigeria relations, reflecting a shared commitment to tackling one of the most pressing threats to global financial stability and public trust.
