EFCC Urges Fintechs to Combat Fraud and Maintain Integrity

On April 30, 2026, Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), addressed fintech companies in Abuja, urging them to strengthen their platforms against fraudsters. During the meeting held at the EFCC's corporate headquarters, he highlighted the need for vigilance in the financial technology sector, which has become a target for criminal activities.

Olukoyede praised the efforts of corporate executives in expanding the global financial space but cautioned that fraudsters exploit this environment. He called for stronger collaboration between the EFCC and fintech firms to share intelligence and maintain the integrity of their businesses.

He stressed that a good reputation is vital for growth and that businesses must guard against reputational damage, which can be difficult to recover from. Olukoyede also warned fintech firms about the risks of terrorism financing and the importance of complying with regulations regarding suspicious transactions.