Flutterwave & EFCC to set up Nigeria’s Cybercrime Research Centre

By Gloria Methri

Flutterwave has partnered with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish and lead a Cybercrime Research Centre in the country. This strategic initiative aims to intensify the fight against internet crime, enhance the security of business transactions, and provide a sustainable lifeline to youths across the country.

The Cybercrime Research Centre, to be established at the new EFCC Academy, will serve as a hub for advanced research, training, and capacity building in the fight against financial crimes. It will focus on several key areas:

Advanced Fraud Detection and Prevention: Developing and implementing new technologies to detect and prevent financial fraud. The centre will offer comprehensive training for law enforcement and industry professionals to combat modern financial crimes effectively.

Collaborative Research and Policy Development: Engaging in joint research initiatives and policy formulation to enhance the understanding and regulation of financial crime. The centre will provide a platform for the exchange of ideas and best practices between the public and private sectors.

Youth Empowerment and Capacity Building: Providing high-end training and research opportunities for 500 youths, equipping them with the skills needed to navigate and excel in the digital economy.

Technological Advancement and Resource Enablement: Creating a repository of advanced tools, technologies, and resources to support financial crime investigations, including protocols for addressing emerging threats such as cryptocurrency-related crimes.

Olugbenga Agboola, Founder and CEO of Flutterwave, said, “As the largest payments infrastructure company in Africa, we are committed to promoting secure and safe transactions. This initiative underscores our commitment to creating a fraud-free financial ecosystem and leading the charge in safeguarding transactions across Africa. We applaud the EFCC’s relentless efforts to combat internet fraud and other illicit activities in the financial sector.”

Ola Olukoyede, Executive Chairman of the EFCC, expressed his appreciation for the partnership, noting, “The EFCC is impressed with the strides and expanse of Flutterwave across Africa. This partnership marks a significant leap forward in our efforts to combat financial crimes and ensure a secure financial landscape for Nigerians. The Cybercrime Research Centre will significantly enhance our capabilities to prevent, detect, and prosecute financial crimes.”