Nigeria Customs hands over seized 7M CFA to EFCC

The Ogun 1 Area Command of the Nigeria Customs Service (NCS) has transferred seven million CFA francs seized from passengers tto the Economic and Financial Crimes Commission (EFCC).

According to a statement on Wednesday, 26th of March 2025, by Muhammad Shuaibu, the area controller, the funds were confiscated during a routine search of passengers’ luggage on March 20, as they were en route to the Benin Republic.

Shuaibu clarified that while travellers are allowed to carry cash, any amount exceeding $10,000 must be declared in line with the provisions of the Anti-Money Laundering Act of 2022 and the Foreign Exchange Act of 1995.

The statement reads:

“The Nigeria Customs Service (NCS) Ogun I Area Command has made a significant discovery, uncovering a bag containing 7,000,000 CFA (approximately ₦17 million or $11,000) at the border’s outward baggage hall.

“Speaking to journalists at Idiroko on Tuesday, 25 March 2025, the Customs Area Controller, Comptroller Muhammad Shuaibu, revealed that the interception occurred on 20 March 2025 during a search of passengers’ bags en route to the Republic of Benin.

“He stated that the interception aligns with Sections 4(e) and (f) of the NCS Act 2023, which focus on smuggling suppression and border enforcement.

“The Comptroller clarified that while travellers are permitted to carry cash, any amount exceeding $10,000 must be declared in accordance with the Anti-Money Laundering Act 2022 and the Foreign Exchange Act 1995.

“ ‘As a travelling passenger, there are privileges you enjoy, but you must declare your currency. Refusal to do so is tantamount to money laundering’, he said.

“The Area Controller noted that no arrests were made but reaffirmed his officers’ commitment to enforcing federal fiscal policies and deterring smuggling activities.

“The seized cash was handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation.” [CONTINUE READING HERE]>>>>