Flutterwave and EFCC to launch Nigerian cybercrime research centre

Africa-based paytech Flutterwave has announced a partnership with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish an innovative Cybercrime Research Centre. This strategic collaboration aims to enhance the fight against Internet crime, secure business transactions, and offer sustainable opportunities for youth across Nigeria. The collaboration was formalised with the signing of a Memorandum of Understanding (MoU).

Augmenting Nigeria’s fraud combating capabilities

Located at the new EFCC Academy, the Cybercrime Research Centre will focus on:

• Advanced Fraud Detection and Prevention: Utilising cutting-edge technologies to identify and prevent financial fraud, while offering comprehensive training for law enforcement and industry professionals;

• Collaborative Research and Policy Development: Conducting joint research initiatives and formulating policies to better understand and regulate financial crime, fostering public-private sector collaboration;

• Youth Empowerment and Capacity Building: Providing training and research opportunities for 500 youths, equipping them with skills to excel in the digital economy;

• Technological Advancement and Resource Enablement: Developing a repository of advanced tools and resources to support financial crime investigations, including protocols for emerging threats like cryptocurrency-related crimes.

Emphasising their commitment to secure financial transactions, representatives from Flutterwave said that as one of Africa’s largest payments infrastructure company, they are dedicated to fostering a secure financial ecosystem. This initiative highlights their efforts to combat fraud and ensure safe transactions across Africa. They commend the EFCC for their fight against internet fraud and other financial crimes.

Officials from EFCC said they are impressed with Flutterwave’s extensive reach across Africa. This collaboration represents a significant advancement in their mission to combat financial crimes and secure Nigeria’s financial landscape. The Cybercrime Research Centre will augment their ability to prevent, detect, and prosecute financial crimes.