EFCC Arrests Man With $7m Cash

Posted by admin EFCC Politics, Headlines Friday, September 28th, 2012

The Economic and Financial Crimes Commission (EFCC) said it had arrested a self-confessed money laun-dering courier, one Abubakar Tijani Sheriff, with $7 million cash (about N1.1 billion) while attemp-ting to travel to Dubai, United Arab Emirates through the Murtala Mohammed International Airport, Lagos.

He had reportedly confessed that 20 individuals hired him to courier the money for them to Dubai.

The anti-graft agency did not reveal the identities of the alleged owners.

A statement issued by the commission’s spokes-person, Wilson Uwujaren, stated that “The EFCC, on Thursday, September 27, 2012 arrested a bulk currency smuggler, one Abubakar Tijani Sheriff, for attempting to smuggle $7million out of the country.

“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 screen-ing and search showed that he was actually carrying $7,049,444 (Seven million, Forty Nine Thousand, Four Hundred and Forty Four United States Dollars).

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. How-ever, 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.

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