The Economic and Financial Crimes Commission on Thursday arrested a bulk currency smuggler, Abubakar Tijani Sheriff, for allegedly attempting to smuggle $7million out of the country.
Sheriff (24) was arrested at the Murtala Mohammed International Airport in Lagos en route Dubai, United Arab Emirates at the point of boarding the plane by operatives of the EFCC.
When arrested, he claimed that he had a $4.5million on him but a thorough screening and search showed that he was actually carrying $7.049million.
A statement made available yesterday by the EFCC’s Acting Head, Media & Publicity, Mr Wilson Uwujaren, also quoted the suspect as confessing that he was a courier for 20 individuals, who hired him to take the money to Dubai.
EFCC’s investigation showed that Sheriff is a regular traveller and one of several couriers of illegal cash suspected to be proceeds of crime while his claims in respect of his accomplices are still being investigated by the anti-graft agency.
Travellers leaving the country are statutorily required to declare cash in excess of $10,000. But? it is not sufficient to declare excess cash, under the provisions of the Money Laundering Act,? as the onus is on the person making the declaration to explain the source of the excess cash and the reason for the export.