The Federal 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 Federal 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.