EFCC warns against false cash declarations, probes passenger with $578,000

The Economic and Financial Crimes Commission (EFCC) has cautioned Nigerians against making false cash declarations, warning that such actions put the country at risk of money laundering.

In a statement on Saturday, March 22, the anti-graft agency disclosed that it had commenced an investigation into Okorie Sylvernus Sunday, who was arrested at Murtala Muhammed International Airport, Ikeja, Lagos, with $578,000 in cash.

The anti-graft agency also stated that the Nigeria Customs Service (NCS) had earlier intercepted the suspect, who arrived in Lagos from Johannesburg aboard South African Airways Flight SA60. At the airport’s currency declaration desk, he declared only $279,000.

However, a routine search uncovered an additional $299,000 hidden in several packages, bringing the total amount to $578,000.

It further stated that authorities also recovered €100 and a counterfeit $250 note among the undeclared cash.

The EFCC quoted Comptroller Effiong Harrison of the NCS Murtala Muhammed International Airport Command, who said, “The suspect’s actions violated the Money Laundering (Prohibition) Act of 2011 before handing him over to the EFCC for further investigation.”

The anti-graft agency lauded the NCS for its cooperation and confirmed that it had taken the suspect into custody.

Speaking on the importance of inter-agency partnership, the Acting Zonal Director of the EFCC Lagos Zonal Directorate 2, Okotie Eboh Ahmed Ghali, highlighted the importance of such collaboration in tackling financial crimes.

“I want members of the public to be wary of this kind of act. It is incumbent on every person entering or leaving the country to declare any cash over $10,000. It is mandatory under our laws, especially the money laundering law,” Ghali stated.

He further warned that false or non-declaration of funds could damage Nigeria’s economy and reputation.