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

The Economic and Financial Crimes Commission (EFCC) has cautioned Nigerians against false cash declarations, warning that such practices expose the country to money laundering risks.

The agency issued the warning in a statement on Saturday, revealing that it had begun investigating Okorie Sylvernus Sunday, a passenger arrested at Murtala Muhammed International Airport, Ikeja, Lagos, with $578,000.

Passenger caught with undeclared cash

The Nigeria Customs Service (NCS) had earlier intercepted the suspect, who arrived in Lagos from Johannesburg aboard South African Airways Flight SA60. Officials said he initially declared only $279,000 at the airport’s currency declaration desk. However, a routine inspection uncovered an additional $299,000 hidden in multiple packages, bringing the total sum to $578,000.

Authorities also found €100 and a counterfeit $250 note among the undeclared cash.

Comptroller Effiong Harrison of the NCS Murtala Muhammed International Airport (MMIA) Command, who handed the suspect over to the EFCC, stated that his actions violated the Money Laundering (Prohibition) Act of 2011.

EFCC launches probe

In response, the EFCC commended the NCS for its cooperation and confirmed that it had taken custody of the suspect for further investigation.

The acting Zonal Director of the Lagos Zonal Directorate 2 of the EFCC, Okotie Eboh Ahmed Ghali, emphasized the importance of inter-agency 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 in excess of $10,000. It is mandatory under our laws, especially the money laundering law,” Ghali stated.

He warned against false or non-declaration of cash, noting that such offences undermine Nigeria’s financial system and international reputation.

“We will not allow anyone to sabotage the economy. This kind of act exposes the country to money laundering risks and makes it appear as a haven for fraud. We will continue working together to strengthen the economy and financial system,” he added.

Ghali also reaffirmed that the law would take its course against individuals involved in financial crimes.