,,,Hands Over to EFCC for Investigation.
By correspondent in Idi-Iroko.
The Nigeria Customs Service (NCS), Ogun 1 Area Command, has intercepted a staggering 7 million CFA (N17 million) being smuggled out of Nigeria and handed it over to the Economic and Financial Crimes Commission (EFCC) for further investigation.
The Area Comptroller, Mohammed Shuaibu, disclosed this on Tuesday while officially handing over the seized currency to Oguzi Moses, Assistant Commander of the EFCC and Head of Investigation, Lagos Zone 2, at Idiroko, Ogun State.
According to Shuaibu, the illicit cash was discovered on March 20 when customs operatives stationed at the outward baggage hall conducted a routine search on a passenger’s luggage en route to Benin Republic.
“During the search, officers found a suspicious bag and, upon closer inspection, uncovered new mint foreign currency notes in 5,000 CFA denominations, amounting to a total of 7 million CFA (equivalent to N17 million),” Shuaibu explained.
He noted that the failure to declare such a large sum violated the Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995.
Emphasizing the importance of inter-agency collaboration, Shuaibu stated that the Customs Service was committed to working closely with the EFCC to combat financial crimes.
Receiving the seized funds, EFCC official Oguzi Moses commended the Customs Service for its vigilance and dedication to safeguarding Nigeria’s borders against illicit financial activities.
“The EFCC will conduct a thorough investigation to uncover the circumstances surrounding this interception and ensure that due process is followed. Let this serve as a warning to those attempting to undermine the integrity of our financial system,” Moses warned.
He assured that the commission remains steadfast in its mission to combat money laundering, currency smuggling, and other economic crimes that threaten the nation’s financial security.
The interception raises concerns over the increasing rate of illicit financial flows across Nigeria’s borders, as security agencies intensify their crackdown on money laundering and smuggling syndicates.
Edited by Dada Ahmed.
