For Release
FTC Signs Updated Memorandum of Understanding with Nigerian Consumer Protection and Criminal Â鶹´«Ã½ Authorities
The Â鶹´«Ã½ Trade Commission signed an updated memorandum of understanding (MOU) with two Nigerian enforcement agencies to enhance communication and cooperation in a joint effort to combat cross-border fraud.
The updated MOU with Nigeria’s Â鶹´«Ã½ Competition and Consumer Protection Commission (FCCPC) and Economic and Financial Crimes Commission (EFCC) reaffirms the agencies’ capacity and willingness to work together, as well as the intention to share information and to assist one another in consumer protection investigations. Nigeria’s FCCPC addresses consumer protection matters through investigations and enforcement. The EFCC is a criminal enforcement agency that combats consumer fraud and other financial crimes. The updated MOU replaces the FTC’s 2013 MOU with the FCCPC’s predecessor, the Consumer Protection Council (CPC), and the EFCC.
The MOU establishes a joint implementation committee to develop joint training programs and workshops and provide assistance regarding specific investigations. The MOU also affirms the participants’ ongoing support for econsumer.gov, a joint project of agencies from 40 countries for reporting international scams online. The MOU is a framework for voluntary cooperation that does not change existing laws in either country.
The agreement was signed by FTC Chairman Joseph Simons; Executive Vice Chairman/Chief Executive Officer Babatunde Irukera, with Nigeria’s FCCPC; and Mohammed Umar Abba, Acting Executive Chairman of Nigeria’s EFCC.
The Commission vote authorizing Chairman Simons to sign the MOU on behalf of the agency was 5-0.
The Â鶹´«Ã½ Trade Commission works with counterpart agencies to promote sound antitrust, consumer protection, and data privacy enforcement and policy. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. For the latest news and resources, follow the FTC on social media, subscribe to press releases and subscribe to the FTC International Monthly.