The Economic and Financial Crimes Commission (EFCC) has arrested a 24 year-old Nigerian,Abubakar Tijani Sheriff for attempting to travel with the sum of $7 million (N1, 120,000billion).
He was arrested at the Murtala Muhammed International airport, Lagos as he was trying to travel to Dubai aboard a United Arab Emirates flight on Thursday.
After his arrest, he said that he had a total sum of $4.5million. But when he was thouroughly searched, he was found to have $7,049,444 on him.
He later confessed that he was a courier for 20 individuals who hired him to take the money for them to Dubai. Authorities said that the money was proceeds from illegal deals and he is a suspected money laundering courier. He has already mentioned 20 prominent Nigerians who are the owners of the money.
The EFCC in a statement released by its spokesperson, Wilson Uwujaren to Sahara Reporters yesterday said that “Investigations by the EFCC showed that Sheriff is a regular traveller and one of several couriers of illegal cash suspected to be proceeds of crime.”
“Travellers leaving the country are statutorily required to declare cash in excess of $10,000. However, under the provisions of the Money Laundering Act, it is not sufficient to declare excess cash; the onus is on the person making the declaration to explain the source of the excess cash and the reason for the export.”
He is now being detained at the EFCC’s holding facility in Lagos pending his arraignment in court.
Photo Credit: Sahara Reporters
He was arrested at the Murtala Muhammed International airport, Lagos as he was trying to travel to Dubai aboard a United Arab Emirates flight on Thursday.
After his arrest, he said that he had a total sum of $4.5million. But when he was thouroughly searched, he was found to have $7,049,444 on him.
He later confessed that he was a courier for 20 individuals who hired him to take the money for them to Dubai. Authorities said that the money was proceeds from illegal deals and he is a suspected money laundering courier. He has already mentioned 20 prominent Nigerians who are the owners of the money.
The EFCC in a statement released by its spokesperson, Wilson Uwujaren to Sahara Reporters yesterday said that “Investigations by the EFCC showed that Sheriff is a regular traveller and one of several couriers of illegal cash suspected to be proceeds of crime.”
“Travellers leaving the country are statutorily required to declare cash in excess of $10,000. However, under the provisions of the Money Laundering Act, it is not sufficient to declare excess cash; the onus is on the person making the declaration to explain the source of the excess cash and the reason for the export.”
He is now being detained at the EFCC’s holding facility in Lagos pending his arraignment in court.
Photo Credit: Sahara Reporters
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