Customs Hands Over Seized Foreign Currency To EFCC In Ogun

Customs Hands Over Seized Foreign Currency To EFCC In Ogun

On Tuesday, March 25, 2025, Mohammed Shuaibu, the Controller of the Ogun I Area Command of the Nigeria Customs Service (NCS) in Idiroko, officially handed over a seized sum of 7,000,000 CFA, equivalent to ₦17,692,105, to the Economic and Financial Crimes Commission (EFCC).

During the handover at the Idiroko Command, Shuaibu highlighted the Customs’ continued efforts to combat activities that threaten the nation’s economy and security. He explained that the currency was discovered on March 2, 2025, when Customs officers were inspecting passengers traveling from Nigeria to Benin Republic. On March 20, during a routine check at the baggage hall, they found a bag suspected of containing illicit items. Upon examination, it was found to hold new foreign currency notes totaling 7,000,000 CFA…READ MORE….

Shuaibu emphasized that the failure to declare such large sums of money contravenes the Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act 1995. Recognizing the EFCC’s vital role in tackling financial crimes, Shuaibu facilitated the handover of the seized currency to the Commission to enhance inter-agency collaboration in the enforcement of financial laws.

The Customs Controller pledged to continue targeting individuals engaged in criminal activities at Nigeria’s borders, asserting that the agency would rigorously enforce the nation’s fiscal policies. He also urged border communities to desist from participating in illegal smuggling activities.

Moses Oguzi, the EFCC’s Head of Investigation for Lagos Zone 2, received the currency on behalf of the Commission, assuring that a thorough forensic investigation would be conducted to determine the origins and circumstances of the seizure. Oguzi reiterated that the EFCC would hold accountable those attempting to undermine the integrity of Nigeria’s financial systems and commended the Customs for their vigilance in preventing illicit financial activities.