Kano: The Nigeria Customs Service (NCS) has announced the interception of undeclared foreign currency amounting to 1.1 million U.S. dollars and 135,900 Saudi Riyals at the Mallam Aminu Kano International Airport in Kano. The undeclared funds were discovered during a routine baggage check on an inbound passenger from Saudi Arabia on Saudi Airline Flight No. SV401.
According to News Agency of Nigeria, NCS Spokesperson Abdullahi Maiwada revealed in a statement in Abuja that the undeclared currency was concealed within packs of palm dates. This seizure underscores the NCS’s dedication to enforcing financial regulations and preventing illicit financial flows across Nigeria’s borders.
The suspect, along with the seized currency, has been handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation and necessary legal proceedings. Following the investigation, the court convicted the defendant and ordered the forfeiture of the undeclared money to the Federal Government, in accordance with the Money Laundering (Prevention and Prohibition) Act of 2022.
Maiwada emphasized the importance of compliance with Nigeria’s financial regulations, particularly the requirement to declare any cash or negotiable instruments exceeding the approved threshold when traveling. The Money Laundering (Prevention and Prohibition) Act of 2022 and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995, provide clear guidelines on currency declaration. Non-compliance with these regulations is a violation of Nigerian law and carries severe penalties.
Under the leadership of Comptroller-General Adewale Adeniyi, the NCS remains committed to combating smuggling, illicit financial transactions, and other trans-border crimes. This recent seizure highlights the service’s dedication to protecting Nigeria’s economic interests and ensuring adherence to financial regulations.
The NCS spokesperson reaffirmed the agency’s commitment to working with relevant government agencies and stakeholders to enhance border security and compliance with financial laws, thereby safeguarding Nigeria’s economy. He urged travelers and financial sector stakeholders to remain vigilant and adhere to lawful financial practices.