EFCC investigates Okorie Sunday for attempting to smuggle $578,000 at Lagos airport. Customs officials revealed he falsely declared $279,000 and concealed an additional $299,000. The case highlights the importance of declaring cash amounts exceeding $10,000 in compliance with the Money Laundering Prohibition Act.
The Economic and Financial Crimes Commission (EFCC) has launched an investigation into Mr. Okorie Sunday, who was apprehended at Murtala Muhammed International Airport, Lagos, while attempting to smuggle $578,000, as reported by the Nigeria Customs Service. EFCC spokesperson, Dele Oyewale, stated that the suspect would face legal action once the investigation concludes.
The Customs Area Comptroller at the airport, Effiong Harrison, transferred the suspect to the EFCC following the discovery of discrepancies in his currency declaration. Mr. Sunday had arrived from Johannesburg on Wednesday, declaring only $279,000 upon entering Nigeria. However, customs officials later found an additional $299,000 hidden in separate packages, leading to his arrest.
Additionally, authorities found €100 and a counterfeit $250 note during their inspection, which violated the Money Laundering Prohibition Act of 2011 that requires declaration of amounts exceeding $10,000. Comptroller Harrison condemned the violation of these laws and confirmed that the funds would be handed over to the EFCC to continue the investigation.
Ahmed Ghali, the Acting Zonal Director of the EFCC in Lagos, praised the cooperation from Customs and highlighted the significance of inter-agency collaboration in combating financial crimes. Ghali stressed the importance of correctly declaring cash amounts over $10,000 when entering or exiting Nigeria to adhere to the nation’s money laundering regulations.
He also cautioned the public against false declarations, warning that legal repercussions await such actions that undermine financial transparency. “We will not permit any action that sabotages the economy or financial system,” Ghali asserted, noting that such conduct could damage Nigeria’s international reputation and increase risks associated with money laundering.
In summary, the EFCC’s investigation into Mr. Okorie Sunday illustrates the ongoing efforts to combat financial crimes in Nigeria. The discovery of undeclared cash and counterfeit notes accentuates the necessity for strict adherence to currency declaration laws. The cooperation between the EFCC and Customs marks a pivotal step in enhancing financial integrity and preventing money laundering activities.
Original Source: tribuneonlineng.com
