Money Laundering: Court Convicts $1.4 Million Bulk Cash Couriers

Money Laundering: Court Convicts $1.4 Million Bulk Cash Couriers

Money Laundering: Court Convicts $1.4 Million Bulk Cash Couriers

A Federal High Court sitting in Lagos and presided over by Justice Okechukwu Okeke yesterday convicted two bulk cash couriers arraigned by the Economic and Financial Crimes Commission (EFCC) and ordered them to forfeit 25% of the $1.4million not declared to the security agencies before they were arrested by operatives of the EFCC at the Murtala Mohammed International Airport, Lagos, a statement from EFCC said yesterday.

The couriers, Adetula Akinyele, a security guard with the Federal Airports Authority of Nigeria (FAAN),  Ifeanyi Uramah and Emmanuel Nnanna were intercepted by operatives of the EFCC on October 21, 2012.

They were arraigned yesterday on a four-count charge of conspiracy to transport the said amount of money out of Nigeria through the airport without declaring it to the Nigerian Customs Service as required by Section 12 of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act cap F34 Laws of the Federation of Nigeria, 2004 and Sections 2(3) and 18(a) of the Money Laundering (Prohibition) Act, 2011.

When the charges were read, the first accused person, Akinyele pleaded guilty to the two charges preferred against him in the four-count charge, while the third accused , Nnanna pleaded guilty to the one-count charge preferred against him.

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