EFCC Launches Investigation into CFA 7m Intercepted by Customs in Ogun
By Usman A Harande
The Economic and Financial Crimes Commission (EFCC) has commenced an investigation into the seizure of CFA 7m (approximately N17m) by the Nigeria Customs Service (NCS) at the Idiroko Border in Ogun State. The probe began on Tuesday, March 25, 2025, after the Customs Area Comptroller, Mohammed Shuaibu, handed over the cash to the EFCC.
According to Shuaibu, the foreign currency was being smuggled from Nigeria to the Republic of Benin when it was intercepted by customs operatives along the Baggage Road in Idiroko. The bag containing the cash was left unattended by a yet-to-be-identified courier.
Key Findings:
- Undeclared Cash: The seized currency was not declared, violating the Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995.
- Inter-Agency Collaboration: The handover of the cash to the EFCC demonstrates the NCS’s commitment to inter-agency collaboration, in line with the policy thrust of the Comptroller General of Customs, Bashir Adewale Adeniyi.
- Forensic Investigation: The EFCC has assured that it will conduct a thorough forensic investigation to determine the circumstances surrounding the seizure and ensure accountability.
The EFCC’s investigation is a significant step towards combating financial crimes and ensuring the integrity of Nigeria’s financial systems. As the probe unfolds, more details are expected to emerge.
About The Author
