EFCC Boosts Anti-Fraud Capacity with Intensive Training on Insurance-Related Financial Crimes
The Economic and Financial Crimes Commission (EFCC) has concluded a three-day specialised training on insurance-related fraud prevention, detection and investigation for senior officers at the Commission’s Port Harcourt Zonal Directorate in Rivers State.
Speaking at the opening ceremony on behalf of the EFCC Chairman, Mr. Ola Olukoyede, the Port Harcourt Zonal Commander, Assistant Commander of the EFCC (ACE) Hassan Saidu, stressed the importance of continuous capacity building, noting that staying ahead of emerging criminal tactics is essential for effective enforcement.
A major highlight of the programme was an expert session delivered by Prof. Prince Mike Akipolati, who led discussions on fraud risks in Nigeria’s insurance sector and their linkages to major financial crimes, including Money Laundering (ML), Terrorism Financing (TF) and Proliferation Financing (PF). He outlined practical methodologies for detecting and preventing such crimes, saying the knowledge gained would significantly strengthen officers’ investigative capacity, improve case file preparation and boost conviction rates.
In another presentation, Sophia Agbo examined the legal and regulatory frameworks guiding insurance fraud prevention, with emphasis on the role of the Nigerian Insurance Industry Regulatory Agency (NIIRA). Her lecture covered statutory provisions governing insurance operations, protocols for fraud reporting and intelligence sharing, and legal standards for gathering admissible evidence. She also discussed best practices in documentation review, digital evidence handling, chain of custody, and effective case preparation in collaboration with law-enforcement and prosecutorial bodies.
Chief Superintendent of the EFCC, Stephanie Fitswemila Philip, delivered an in-depth session on common insurance fraud schemes—such as staged accidents, false claims, inflated losses, forged documents, identity fraud and multiple claims—and explained the key red flags and early-warning indicators investigators should look out for. She demonstrated practical detection techniques, including document verification, data matching, interviews and surveillance methods.
Additionally, ACE II Stephen Onwochie facilitated a lecture on strengthening internal controls and compliance as essential tools for fraud prevention. He highlighted core control mechanisms, including segregation of duties, authorization limits and audit trails, alongside the use of risk-assessment frameworks to identify vulnerabilities. He also underscored the importance of compliance monitoring, internal audits, continuous improvement processes, ethical conduct and staff accountability.
In his closing remarks, the EFCC Chairman commended the participants and urged them to immediately apply the skills gained. “We are confident that the knowledge and specialised competencies acquired here will significantly bolster our collective capacity to combat sophisticated financial crimes in the insurance sector. We urge you to translate this learning into action,” he said.
