EFCC Initiates Investigation into $578,000 Cash Smuggling Incident

The EFCC has begun investigating Okorie Sunday for smuggling $578,000 at Lagos Airport. He falsely declared $279,000, with an additional $299,000 discovered concealed. Further inspection led to the uncovering of €100 and a counterfeit note. The actions violate the Money Laundering Prohibition Act. The EFCC and Customs are working collaboratively to ensure adherence to financial regulations.

The Economic and Financial Crimes Commission (EFCC) has initiated an investigation into one Okorie Sunday, who was arrested at Murtala Muhammed International Airport, Lagos, while in possession of $578,000. This action was confirmed by EFCC spokesperson, Dele Oyewale, who noted that the suspect will face charges upon the investigation’s conclusion.

According to Oyewale, Effiong Harrison, the Area Comptroller of Customs at the airport, transferred the suspect to the EFCC after discovering that he had declared only $279,000 at the Currency Declaration Desk upon entering Nigeria from Johannesburg. Customs officials later found an additional $299,000 hidden in separate packages.

Further examination revealed that Sunday also concealed €100 and a counterfeit $250 note, exacerbating the violation of currency declaration laws. Harrison condemned the act, which breaches the Money Laundering Prohibition Act 2011, compelling declarations of amounts exceeding $10,000 or equivalent to be disclosed upon entry or exit from the country.

Adewale Adeniyi, speaking on behalf of the Comptroller-General, acknowledged that the total amount of $578,000 would be formally submitted to the EFCC for in-depth investigation. In receiving the suspect, Ahmed Ghali, the Acting Zonal Director of the EFCC in Lagos, praised Customs for their collaboration and highlighted the significance of joint efforts between agencies.

Ghali stated, “We are here to take over a passenger from South Africa who falsely declared the cash he was carrying into the country,” urging the public to adhere to the regulations by declaring amounts greater than $10,000 when entering or exiting Nigeria. He warned citizens to avoid making false declarations, emphasizing that the law would hold accountable those attempting to obstruct financial transparency.

According to Ghali, such unlawful activities may harm Nigeria’s economic reputation, tarnishing the country’s image and portraying it as a safe haven for fraud. He reaffirmed the EFCC’s commitment to ongoing cooperation aimed at enhancing the economy and financial integrity.

The investigation into Okorie Sunday highlights the ongoing efforts of Nigerian authorities to combat financial crimes, with a particular focus on enforcing currency declaration laws. The collaborative work between the EFCC and the Nigeria Customs Service underlines the importance of inter-agency cooperation in addressing such violations. By stressing the need for transparency, officials aim to uphold Nigeria’s financial integrity and mitigate the risks associated with money laundering.

Original Source: tribuneonlineng.com