EFCC, South Korean Police Begin 10-Day Training On Crypto Investigations
The Economic and Financial Crimes Commission (EFCC) and the South Korean Police have commenced a 10-day specialised training programme aimed at strengthening investigators’ capacity to trace assets and investigate cryptocurrency-related crimes.
The programme, which began on Tuesday, October 13, 2026, is being held at the EFCC Academy in Karu, Abuja, with more than 30 EFCC operatives participating.
EFCC Chairman Ola Olukoyede, represented by the Acting Commandant of the EFCC Academy, Assistant Commander of EFCC Joseph Ogwiji, said the growing use of digital financial services and virtual assets had made continuous training essential for investigators.
He explained that although these technologies support legitimate economic activities, criminals also exploit them to perpetrate fraud, transfer illicit proceeds and conceal their identities.
According to him, investigators must develop the technical expertise required to analyse transaction records, track funds across different platforms and link digital evidence to individuals under investigation.
The Consul and Police Attaché at the Embassy of the Republic of Korea in Nigeria, Eun-pyo Hong, described the programme as the first of its kind organised by the Korean Government in Africa.
He said the training also marked the first anniversary of the Memorandum of Understanding signed between 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 Deputy Commissioner General of the KNPA, Park Seong-Ju, covers information exchange, capacity building, asset recovery coordination, training exchanges, research collaboration and international cooperation.
Meanwhile, Woosung Kwon, leader of the Korean Police Investigation Academy training team, said financial crimes were evolving rapidly, with criminals increasingly using cryptocurrency, cross-chain tools and the dark web to conceal illicit funds.
He stressed the need for international cooperation, noting that cryptocurrency-related crimes transcend national borders.
Kwon explained that participants would receive practical training in open-source investigations, 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 EFCC Michael Kayang, said the programme would strengthen investigators’ technical skills in tracing and analysing virtual asset transactions.
He added that the training would improve the Commission’s efforts to combat cyber-enabled financial crimes and recover proceeds of criminal activities.
Wali urged participants to actively engage with their South Korean counterparts and apply the knowledge gained to their operational duties.
