Money laundering: Court jails courier over $286,400 cash

A Federal High Court in Lagos yesterday convicted a bulk cash courier arraigned by the Economic and Financial Crimes Commission (EFCC).

It also ordered him to forfeit 25 per cent of the $286,400.00 not declared to the security agencies before he was arrested at the Murtala Mohammed International Airport, Lagos .

The courier, Ikem Sabastine Ikechukwu, was intercepted by operatives of the EFCC, on Saturday, 29 September, 2012 carrying $286,400.00 at the airport on his way to Dubai , United Arab Emirates.

He only declared the sum of $225,900.00 to the Nigerian Customs Service.

A statement by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, said the convict was arraigned on a one-count charge of money laundering.

The statement said: “The one-count charge against Ikechukwu reads: That you Ikem Sabastine Ikechukwu on or about the 29th of September 2012 at the Murtala Mohammed International Airport, Lagos, within the jurisdiction of the Federal High Court while transporting in cash the sum of $286, 400.00 only from Nigeria to Dubai, United Arab Emirates falsely declared to the Nigerian Customs Service the sum of $225,900.00 only instead of the said sum of $286,400.00 as required under section 12 of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act cap F34 Laws of the Federation of Nigeria 2004 and Section 2 (3) of the Money Laundering ( Prohibition) Act, 2011 and thereby committed an offence punishable under Section 2(5) of the Money Laundering (Prohibition) Act 2011.

“The accused pleaded guilty to the charge. Based on his plea, prosecuting counsel, A.M. Aliyu prayed the court to convict him.

“The defence counsel, B. O. Ndakara, however, pleaded with the court for leniency as the accused person was a first-time offender who did not waste the court’s time. ‘I pray the court to apply discretion in the terms of punishment to be awarded to the convict,’ he told the court.

“Justice Okechukwu Okeke convicted the accused person as charged.

“He ruled that based on the provisions of Section 2(5) of the Money Laundering Prohibition Act 2011, the accused person should forfeit 25 percent of the undeclared sum which is $60,500 (Sixty Thousand Five Hundred United States Dollars) to the Federal Government of Nigeria.”

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