EFCC Investigates Cash Smuggling Case at Lagos Airport

The EFCC is investigating Okorie Sunday, arrested at Lagos airport with $578,000 in undeclared cash. Customs found the money upon his arrival from South Africa, and he will face charges. The EFCC urges adherence to money laundering regulations to prevent economic destabilization.

The Economic and Financial Crimes Commission (EFCC) has initiated an investigation into Okorie Sunday, who was apprehended at Murtala Muhammed International Airport, Lagos, with undeclared cash amounting to $578,000. Dele Oyewale, the EFCC spokesperson, confirmed this in an Abuja statement, indicating that the suspect will face charges following the investigation’s conclusion.

Okorie Sunday arrived in Nigeria from Johannesburg, South Africa, on Wednesday. Upon entry, he declared $279,000 to Customs authorities. However, Customs officials later discovered an additional $299,000 concealed in separate packages, leading to his arrest. This breach was further exacerbated by the finding of €100 and a counterfeit $250 note among his belongings.

Effiong Harrison, the Area Comptroller of Customs at the airport, noted that Sunday’s actions violated the Money Laundering Prohibition Act of 2011. This regulation mandates the declaration of amounts exceeding $10,000 upon entering or exiting the country. He confirmed that the entirety of the $578,000 would be handed over to the EFCC for further investigation.

EFCC’s Acting Zonal Director, Lagos, Ahmed Ghali, praised the cooperation from Customs officials and underscored the significance of inter-agency collaboration in such matters. He emphasized the necessity for individuals to declare any amounts exceeding $10,000 when entering Nigeria, urging compliance with existing money laundering laws.

Ghali warned against false declarations, asserting that individuals who attempt to evade financial transparency will be caught by law enforcement. He stated, “We will not permit any action that sabotages the economy or financial system, as such conduct increases the risk of money laundering and economic instability.” He highlighted that these illicit activities tarnish Nigeria’s global image and assured continued cooperation to enhance the integrity of the nation’s financial systems.

The EFCC’s investigation into Okorie Sunday underscores the stringent enforcement of Nigeria’s money laundering laws. With the discovery of significant undeclared cash and additional fraudulent items, the breach of currency regulations is significant. Authorities emphasize the necessity of transparency in financial dealings to safeguard Nigeria’s economic integrity and international reputation.

Original Source: tribuneonlineng.com