The Nigeria Customs Service (NCS) has intercepted a large sum of undeclared money at the Nnamdi Azikiwe International Airport in Abuja. A total of $193,000 was discovered hidden inside a carton of yoghurt, violating Nigerian financial regulations.
In a statement released on Friday, Abdullahi Maiwada, the spokesperson for the NCS, confirmed that the money was concealed by a passenger who arrived in Nigeria on an Ethiopian Airlines flight, No. 951, from Jeddah, Saudi Arabia. The passenger, who was not immediately named, had failed to declare the large sum of money in line with Nigerian laws governing the transportation of foreign currency.
According to the Nigeria Customs Service, the undeclared funds violated the Anti-Money Laundering (Prevention and Prohibition) Act 2022, as well as the Nigeria Customs Service Act 2023. These laws stipulate that any traveller carrying more than $10,000 (or its equivalent) in negotiable instruments must declare the amount to the relevant authorities when entering or leaving the country.
Maiwada explained that the discovery was made after Customs officers conducted a thorough inspection of the passenger’s luggage, acting on intelligence that led them to search the container where the money was concealed. The statement revealed that the money was hidden inside a carton of yoghurt, an attempt to evade detection by the authorities.
“Acting on intelligence, customs officers conducted a detailed inspection, leading to the discovery of the concealed cash,” the statement read.
The seized $193,000 has been officially handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation and possible prosecution. The EFCC is Nigeria’s primary agency for tackling economic and financial crimes, and it will now take over the case to determine the full extent of any illegal activity connected to the undeclared funds.
The NCS reiterated its commitment to upholding the nation’s financial regulations, highlighting the importance of preventing illicit financial flows across Nigeria’s borders. Maiwada warned travellers to adhere to the country’s laws regarding the declaration of cash or negotiable instruments, emphasizing that failure to do so could lead to severe consequences.
“The seized money has been formally handed over to the EFCC for further investigation and possible prosecution,” Maiwada said. “As required by law, we are handing over the forfeited funds to the EFCC for further necessary action.”
The seizure of the $193,000 comes at a time when the Nigerian government has been ramping up efforts to combat money laundering, terrorism financing, and other illicit financial activities. Customs authorities have been working closely with the EFCC and other agencies to strengthen border security and prevent the illegal movement of large sums of money into or out of the country.
The discovery also highlights the ongoing challenge of monitoring and controlling the movement of cash and other negotiable instruments through Nigeria’s major international airports. While the NCS and other law enforcement agencies have made significant strides in cracking down on such activities, the creative methods used by criminals to conceal illicit money continue to pose a significant threat.
Illicit financial flows are a growing concern worldwide, and Nigeria has been making efforts to align with international standards for combating money laundering and financing of terrorism. As part of its obligations under the Financial Action Task Force (FATF) recommendations, Nigeria is required to implement strict regulations to prevent the movement of large sums of illicit money across its borders.
In recent years, Nigeria has faced criticism for its struggle to curb financial crimes, with the movement of illicit funds being one of the most persistent issues. The seizure of this large sum of money is a reminder of the importance of continued vigilance in enforcing financial regulations, especially given Nigeria’s role as one of the largest economies in Africa.
The interception of the $193,000 is just one example of how Customs and other regulatory agencies are working to tighten their control over illegal financial activities. While some may attempt to exploit loopholes in the system, authorities are determined to ensure that Nigeria’s borders are not used as gateways for illicit financial flows.
In his statement, Maiwada urged all travellers to adhere to the legal requirements regarding the declaration of foreign currency and negotiable instruments exceeding the $10,000 threshold when entering or leaving Nigeria. Failure to comply with these regulations, he warned, could result in serious legal consequences, including the forfeiture of the undeclared funds.
“Travellers must comply with the legal requirement to declare any cash or negotiable instruments exceeding the approved threshold when entering or leaving the country,” he said.
Maiwada’s warning to the public also serves as a reminder to Nigerians that the Customs Service is closely monitoring airport operations and actively enforcing regulations that aim to protect the country’s economy and ensure the integrity of its financial systems.
