EFCC, CPC, US Agency Signs MoU on Consumer Rights

The Consumer Protection Council (CPC), Economic and Financial Crimes Commission (EFCC) and the United States’ Federal Trade Commission (FTC) have signed a joint Memorandum of Understanding (MoU) for bilateral cross-border cooperation on consumer protection matters.

Meanwhile the MoU, which was signed on August 28, 2013 by the FTC Chairwoman, Edith Ramirez, the Director General of CPC, Mrs. Dupe Atoki, and the Executive Chairman of EFCC, Mr. Ibrahim Lamorde at the FTC’s headquarters in Washington DC, the agreement will involve information sharing for investigations and law enforcement proceedings, civil/criminal investigative assistance, intelligence gathering and use of complaint data, enhancing consumer education, while a joint implementation committee would be set up by the collaborating agencies for the execution of the MoU. The statement further noted that the signing of the MoU by the three organisations was to engender the needed synergy and cooperation to fight such fraudulent and deceptive practices, which are detrimental to the interests of both domestic and global markets.

A statement issued by CPC and signed by its Deputy Director, Public Relations, Abiodun Obimuyiwa, quoted Atoki as saying that the council fully supported the collaboration on consumer and fraud matters, and had already detailed a senior CPC official to the FTC for a six-month staff member exchange, likewise her EFCC counterpart, Lamorde, described the partnership as building on “our existing collaboration with the FTC and with US criminal enforcement authorities” while the FTC Chairwoman, Ramirez observed that the “MoU will help our agencies address this plague” of cross-border scamming using fraudulent e-mails and other insidious scams to bilk consumers as well as to better protect consumers in both countries.