Flutterwave, FBI, EFCC Partner to Build Cybercrime Centre

Flutterwave, Africa’s leading electronic payment company, has partnered the Economic and Financial Crimes Commission (EFCC) and the Federal Bureau of Investigations (FBI) to build a cutting-edge cybersecurity research centre in Nigeria.

The aim is to counteract Internet fraud and fortify the security of online commercial transactions.

Flutterwave CEO Olugbenga Agboola and representatives of the security agencies signed an MoU penultimate Friday to formalise the partnership.

EFCC chairman Ola Olukoyede and FBI director Christopher Gray were present at the MoU signing, where Agboola said Flutterwave would train anti-graft operatives using sophisticated tech tools and techniques to detect and prevent these crimes.

Mr Agboola said the cybercrime research centre became necessary to tackle the prevalence of Internet scams and avoid destabilising the financial systems.

The state-of-the-art centre, to be built at the EFCC academy, is expected to focus on advanced fraud detection and prevention, collaborative research and policy development, youth empowerment and capacity building, technological advancement and resource enablement.

Agboola said the research centre signposted Flutterwave’s commitment to “promoting secure and safe transactions” and “creating a fraud-free financial ecosystem” across Africa. He hailed the efforts of the EFCC, Nigeria’s financial crime police, in tackling cyber fraud and prosecuting perpetrators.

Olukoyede, on his part, had glowing words for Flutterwave, which he said was making giant strides in Africa. He said the cybercrime research centre was a step in the right direction to equip operatives with the knowledge and skills “to prevent, detect, and prosecute financial crimes.”

“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 EFCC chairman said. “The Cybercrime Research Center will significantly enhance our capabilities to prevent, detect, and prosecute financial crimes.”