Man bags three months jail term for money láundering in Lagos

One Okunfulure Olusola Steve has been convicted and sentenced to three months imprisonment for money laundering.

He was sentenced by Justice Deinde I. Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, 2nd of April 2025.

In a statement on the X handle of the Economic and Financial Crimes Commission (EFCC), the convict was arrested on 28th of March 2025, at the Murtala Muhammed International Airport in Ikeja, Lagos, by operatives of the Nigeria Customs Service (NCS) for falsely declaring $30,000 in currency.

On the same day, March 28, 2025, the NCS handed him over to the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) at Okotie Eboh, Ikoyi, Lagos, for further investigation.

Subsequently, he was arraigned on Wednesday on a one-count charge related to money laundering.

The EFCC’s statement partly reads:

“Justice Deinde I. Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, April 2, 2025, convicted and sentenced Okunfulure Olusola Steve to three Months imprisonment for money laundering.

“The convict was arrested on March 28, 2025 at the Murtala Muhammed International Airport, Ikeja, Lagos by operatives of the Nigeria Customs Service, NCS, for false currency declaration to the tune of $30,0000.

“The NCS had, on Friday, March 28, 2025, handed him over to the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, Okotie Eboh, Ikoyi, Lagos for further investigations.

“Consequently, he was arraigned on Wednesday on one-count charge bordering on money laundering.

“The count reads: ‘That you, Okunfulure Olusola Steve, on the 28th day of March, 2025 in Lagos, within the Jurisdiction of this Honorable Court, failed to make a declaration of the sum of $20,000 (Twenty Thousand United States Dollars) to the Nigerian Customs Service at the Murtala Muhammed International Airport, Ikeja, and thereby committed an offence Contrary to and Punishable under Section 3(5) of the Money Laundering (Prevention and Prohibition) Act, 2022’.

“The defendant pleaded ‘guilty’ to the charge when it was read to him.

“Following his guilty plea, prosecution counsel, C.C. Okezie called on Felicia Paul, an operative of the EFCC, to review the facts of the case.

“Paul, while giving details of how she knew the defendant, told the court that the NCS handed him over to the Lagos Zonal Directorate 2 of the EFCC on Friday, March 28, 2025.

“Led in evidence by the prosecution counsel, Paul also told the court that the defendant was arrested with the sum of $30,000, which he failed to declare. She further told the court that ‘his statement was recorded under caution and was served with the bail conditions’.

“Thereafter, she identified the defendant’s statement, the handing-over note from the NCS, the arresting officer’s statement as well as the sum of $30,000(Thirty Thousand US Dollars) to the EFCC.

“Okozie then sought to tender, in evidence, the documents.” [CONTINUE READING HERE]>>>>>