It is reported that the Economic and Financial Crimes Commission has begun Investigation of a man arrested recently for allegedly trying to smuggle $370,000 out of the country.
The spokesman of the commission, Wilson Uwujaren, disclosed this in a statement on Tuesday in Abuja.
Uwujaren said the suspect, Adamu Rabiu Mohammed, was intercepted by Customs officers at the Kaduna International Airport on March 3.
According to him, Mohammed was preparing to board an Ethiopian Airline flight to Dubai, United Arab Emirates when he caught the attention of the Customs men.
He was subsequently handed over to the EFCC for further investigation.
Receiving the suspect, the Head of the Kaduna Zonal office of the commission, Ibrahim Bappa, reportedly assured the public that no efforts would be spared to get to the bottom of the matter.
Bappa, who acknowledged the synergy between the EFCC and the Nigeria Customs Service commended the officers for their vigilance.
Uwujaren said the suspect would be arraigned as soon as investigation was concluded.
The Money Laundering (Prohibition ) Act, 2011 forbids individuals coming into or leaving the country from carrying above $10,000 cash, except the amount is declared.
Section 2(3) provides: “Transportation of cash or negotiable instruments in excess of 10,000 dollars or its equivalent by individuals in or out of the country shall be declared to the Nigeria Customs Service (NCS).”
Section 2(5) states: “Any person who falsely declares or fails to make a declaration to the NCS pursuant to section 12 of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Cap. F34, LFN, 2004 is guilty of an offense and shall be liable on conviction to forfeit the undeclared funds or negotiable instrument or to imprisonment of not less than two (2) years or to both.” —Mynation News