The United Kingdom and Nigeria have formalised a new partnership to intensify efforts against fraud and financial crime, following the signing of a Memorandum of Understanding and joint Action Plan by both nations in Abuja.
UK Minister for Fraud, Lord Hanson, the Attorney General and Minister of Justice, CmLateef Fagbemi, and National Security Adviser, Nuhu Ribadu, signed the agreement during a high-level meeting held this week.
According to a statement issued by the British High Commission in Abuja on Thursday, the agreement aims to enhance intelligence sharing, joint investigations, and coordinated actions to combat rising fraud threats targeting both countries.
The deal came amid growing concern over the international dimensions of fraud, with UK officials estimating that more than 70 percent of fraud impacting the country originates or involves actors based overseas.
“This new agreement with Nigeria will help us better identify and stop fraud before it happens, crack down on criminals who exploit our systems, and ultimately protect the public.
“My meetings in Abuja have been hugely constructive. I’m proud to have signed this agreement, which sets both our nations firmly on the path to a safer and more resilient future,” said Lord Hanson.
Key areas of collaboration include intelligence sharing between the UK’s National Crime Agency and Nigeria’s Office of the National Security Adviser, joint law enforcement operations, and regulatory coordination across financial, telecom, and digital sectors.
The partnership will also facilitate joint training programmes, beginning with targeted support for Nigerian prosecutors from the UK’s Serious Fraud Office, and foster shared research into emerging fraud tactics, including the abuse of technology and artificial intelligence.
Commenting on the initiative, National Security Adviser Nuhu Ribadu stated, “Building on the foundation of the past successes, we must confront crime with greater seriousness, deepen collaboration across all fronts; addressing enablers, supporting victims, and pursuing perpetrators, and sustain an unyielding commitment to protect our societies.”
According to the UK’s Crime Survey for England and Wales, fraud is the most common crime, with an estimated 4.1 million cases reported in 2024 alone, costing individuals over £6.8bn annually.
The emotional and psychological impact on victims, especially in cases like financially motivated sexual extortion, has also been described as severe and long-lasting.
The Deputy Director of Fraud at the NCA, Nick Sharp, highlighted the importance of international coordination.
“By sharing vital intelligence, conducting joint operations, and working to identify and address vulnerabilities, we will strengthen our collective response – ensuring that criminals are brought to justice, wherever they are,” Sharp noted.
The MoU builds on the UK-Nigeria Fraud Dialogue launched in November 2024, which facilitates ongoing collaboration between both countries in line with their strategic partnership.
The initiative reflects the UK government’s expanding Fraud Strategy, which places international cooperation at the core of efforts to reduce financial crime and protect citizens at home and abroad.
