The Economic and Financial Crimes Commission on Friday confirmed the arrest of a 24-year old suspect, Abubakar Tijani Sheriff, at Murtala Muhammed International Airport in Lagos for trying to smuggle out $7million(N1, 120,000billion).
The arrested bulk currency smuggler, who was arrested on Thursday, was attempting to take the $7million, suspected to be for money laundering purpose to Dubai on behalf of 20 Nigerians whom he has not named.
It was however learnt that the suspect has named one of those who sent him on errand after undergoing interrogation on Friday.
A statement by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said the suspect was caught at the point of boarding.
The statement said: “The 24-year-old was arrested at the Murtala Mohammed International Airport in Lagos en route Dubai, United Arab Emirates. He was apprehended at the point of boarding the plane by operatives of the Commission.
“When he was arrested, he declared that he had a total sum of $4.5million on him but thorough screening and search showed that he was actually carrying $7,049,444 (Seven million, Forty Nine Thousand, Four Hundred and Forty Four United States Dollars).
“He confessed that he was a courier for 20 individuals who hired him to courier the money for them to Dubai.
“Investigations by the EFCC showed that Sheriff is a regular traveller and one of several couriers of illegal cash suspected to be proceeds of crime. His claims in respect of his accomplices are still being investigated by the Commission.
“Travellers leaving the country are statutorily required to declare cash in excess of $10,000. However, it is not sufficient to declare excess cash, under the provisions of the Money Laundering Act, the onus is on the person making the declaration to explain the source of the excess cash and the reason for the export.
“Experience has shown that bulk cash smuggling, the world over, is usually associated with proceeds of crime as legitimately earned funds are usually processed through the banking system.
“Our experience in the last few years indicates an emerging trend of bulk cash smuggling to Europe, Middle East and North America with the attendant consequence for capital flight.
“Some Nigerian citizens are routinely arrested at airports in Europe and North American for currency smuggling though no such arrests have been recorded in the Middle East. But in all cases, the money is lost as they are never repatriated back to the country.” Click to signup for FREE news updates, latest information and hottest gists everyday
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Ole
ReplyDeleteHmmn,no b small tin o
ReplyDeleteNigerians will never repent... gosh!
ReplyDeletenigerians will never repent... gosh!
ReplyDeleteNothing will happen to him.
ReplyDeleteSanu-thief shld be sacked because this is one of his intensions for d #5000 note. Capital flight of Naira to other countries. Uncle Johnny, pls cancel d introductiion of #5000 note, it will be used to ruin Nigeria.
ReplyDeleteHe was arrested becouse he did not play ball.
ReplyDeleteOlee! Very soone We will experience more of this becauSe of the five thousand naira note. May God see us through
ReplyDeleteThe populace is suffering from lack of health care,lack of infrastructure,high rate of unemployment etc yet the thieves that re the ruling class smuggle our common wealth abroad. High time this culprits are made known to us.we must clean the augean stable. Corruption is killing this country.
ReplyDeleteTo comment no 5,wat did u tink can happen to him? We r in Nigerian"Noting". Na wa 4 dis Nigerian mess.
ReplyDeleterepent accept Jesus & b saved that u may steal no more.
ReplyDeleteHahahahahahahaha oleeeeeeeeeeeeeee #1.1b ($7m) Haba thieves!!!
ReplyDeletelol... i was thinking the same thing about the N5000 note.
ReplyDelete