EFCC Investigates Cash Smuggling Case Involving $578,000

The EFCC is investigating Okorie Sunday for smuggling $578,000 into Nigeria and falsely declaring a portion of it. Following his arrest at Lagos airport, he faces charges under the Money Laundering Prohibition Act, and authorities emphasize the importance of declaring amounts over $10,000 upon entry.

The Economic and Financial Crimes Commission (EFCC) has initiated an investigation into Okorie Sunday, who was apprehended by the Nigeria Customs Service at Murtala Muhammed International Airport in Lagos, possessing $578,000. According to EFCC spokesperson, Dele Oyewale, the suspect is expected to be charged in court following the completion of the investigation.

Area Comptroller of Customs, Effiong Harrison, transferred Sunday to the EFCC after the latter falsely declared a portion of his currency. Sunday arrived from Johannesburg, South Africa, reporting $279,000 at the Currency Declaration Desk, but customs officials identified an additional $299,000 concealed in separate packages, resulting in his arrest.

The customs investigation also uncovered €100 and a counterfeit $250 note, further complicating the legal violations. Harrison condemned this act, emphasizing its contradiction to the Money Laundering Prohibition Act of 2011, which mandates the declaration of amounts exceeding $10,000 upon entering or exiting Nigeria.

Harrison, representing the Comptroller-General, Adewale Adeniyi, confirmed that the seized $578,000 would be formally submitted to the EFCC for further investigation. EFCC’s Acting Zonal Director, Ahmed Ghali, lauded the customs collaboration and stressed the significance of inter-agency cooperation in combating such offenses.

Ghali highlighted the importance of declaring any cash over $10,000 when entering or leaving Nigeria, in accordance with the country’s money laundering regulations. He urged citizens to avoid false declarations, warning that the law would inevitably catch up with individuals attempting to evade financial transparency.

In summary, the EFCC’s investigation into Okorie Sunday underscores the necessity for compliance with currency declaration laws in Nigeria. The incident highlights the cooperative efforts between the EFCC and Customs in tackling financial crime and reinforces the importance of adhering to the Money Laundering Prohibition Act. By alerting the public to the repercussions of false declarations, authorities aim to enhance financial integrity and stability in the country.

Original Source: tribuneonlineng.com