Amid rising concerns over the global spread of fraud, the United Kingdom and Nigeria have signed a new pact aimed at disrupting financial crimes that span both nations’ borders.
The agreement, sealed in Abuja through a Memorandum of Understanding and joint Action Plan, will intensify collaboration on intelligence sharing, joint investigations, and regulatory alignment.
UK Minister for Fraud, Lord Jonathan Hanson; Nigeria’s Attorney General, Lateef Fagbemi (SAN); and National Security Adviser, Nuhu Ribadu, formalised the deal during a high-level meeting this week.
A statement from the British High Commission described the partnership as a proactive response to growing threats, with UK authorities noting that over 70% of fraud cases affecting the country involve perpetrators based overseas.
“This marks a turning point in how both countries approach fraud. We’re building a united front to stop these crimes before they happen,” Lord Hanson said, highlighting the UK’s expanded Fraud Strategy which places international cooperation at its core.
Under the agreement, the UK’s National Crime Agency and Nigeria’s security agencies will coordinate real-time intelligence efforts, law enforcement actions, and regulatory reforms across sectors including finance, telecommunications, and digital infrastructure.
The partnership also introduces targeted training programmes for Nigerian prosecutors, facilitated by the UK’s Serious Fraud Office, and opens the door for collaborative research into modern fraud tactics, from digital scams to the abuse of artificial intelligence.
Ribadu, while commending the initiative, emphasised the need for sustained political and institutional will.
“Fighting financial crime requires more than agreements; it demands a shared resolve to disrupt enablers, protect victims, and bring offenders to justice.”
Fraud remains the UK’s most reported crime, with an estimated 4.1 million cases logged in 2024, resulting in losses exceeding £6.8 billion. Officials warn that beyond financial damage, victims face lasting emotional and psychological harm, particularly in cases like sextortion.
Nick Sharp, Deputy Director of the UK’s National Crime Agency, reinforced the need for joint enforcement.
“Criminals don’t respect borders. Our response shouldn’t either.”
This new agreement builds on the UK-Nigeria Fraud Dialogue launched in late 2024, reinforcing a growing bilateral commitment to safeguard citizens and financial systems from evolving global threats.
