From Laide Raheem, Abeokuta
The Customs Area Controller of the Ogun 1 Area Command of the Nigeria Customs Service, Mohammed Shuaibu, has handed over 7 million CFA equivalent to N17m intercepted by the operatives of the command, to the officials of the Economic and Financial Crimes Commission (EFCC).
Handing over the foreign currency to the officials of the anti-graft agency led by Head of Investigation, EFCC, Lagos Zone 2, Oguzi Moses, yesterday ,at the Idiroko Border Post, Shuaibu disclosed that the francophone countries’ currency new notes were intercepted on March 20, 2025, at the Idiroko border.
He explained that the customs officers who were on duty on the fateful day at the outward baggage hall, discovered the currency concealed in a bag en route Nigeria to the Republic of Benin.
Shuaibu added that when the bag, which was suspected to be carrying unlawful contents was spotted, operatives of the command gave it a thorough examination and new mint foreign currency notes were tucked inside it.
The Customs boss said that the search was in line with the mandates of the command as stipulated in Section 4e and f of the Nigeria Customs Service Act, 2023, on suppression of smuggling and border enforcement.
He pointed out that failure to declare cash amounting to the seized currency runs contrary to the Anti-money Laundering (Prevention and Prohibition) Act, 2022 and the foreign exchange (monitoring and miscellaneous Provisions) Act, 1995.
Shuaibu, however, stated that the seized foreign currency notes which are also equivalent to $11,000, were handed over to the EFCC because it is the agency saddled with tackling illicit currency flow into Nigeria.
He added that the handing over of the seized currency is equally to foster interagency collaboration between the NCS, EFCC and other sister agencies in line with the policy thrust of the Comptroller-General of Customs, Bashir Adewale Adeniyi.
“We must continue to send the right signal to discourage other people from indulging in the despicable act of smuggling. The command under my leadership is committed to the strict implementation of the Federal Government fiscal policies and the extent laws that govern the day-to-day operations of the service at the international corridor. I wish to advise the border communities to discourage and desist from any unscrupulous act of smuggling activity”, Shuaibu submitted.
Responding, the Assistant Commissioner of EFCC, Oguzi, commended the officers and operatives of Ogun 1 Area Command of the NSC for their vigilance and thorough scrutiny of baggage coming into the country through the Idiroko border post.
“The EFCC remains steadfast in its mandate to combat economic and financial crimes. The interception of this substantial sum is a testament to the importance of inter-agency collaboration in our fight against corruption, money laundering, and other financial crimes.
“As we take over this case, the EFCC will conduct a thorough investigation to uncover the circumstances surrounding this interception and ensure that due process is followed. Let this serve as a reminder that no effort will be spared in holding accountable those who seek to undermine the integrity of our financial systems”, Oguzi stated.