#CRIME : EFCC arrested two businessmen for failure to declare over $4m found on them

The Economic and Financial Crimes Commission, EFCC, yesterday arraigned two businessmen identified as Ojukwu Nnamdi Rowland and Ngene Linus Chibuike before Justice Ibrahim Buba of the Federal High Court, Lagos on one count charge bordering on bulk cash movement and money laundering....


Ojukwu and Ngene who are businessmen and were traveling to China for business, were arrested after failing to declare US$2,917,272 (Two Million, Nine Hundred and Seventeen Thousand, Two Hundred and Seventy Two United States Dollars) and US$2,506,998 (Two Million, Five Hundred and Six Thousand, Nine Hundred and Ninety Eight United States Dollars) found on them respectively at the Muritala Mohammed International Airport on October 8th.

The charge against Ojukwu read:

"That Ojukwu Nnamdi Rowland on or about the 8th day of October, 2015 at Murtala Muhammed International Airport within the jurisdiction of the Federal High Court had in your possession cash in the sum of US$2,917,272 (Two Million, Nine Hundred and Seventeen Thousand, Two Hundred and Seventy Two United States Dollars) during your outbound clearance for travel to Addis Ababa and failed to declare the said sum of US$2,917,272 to the officers and men of the Nigeria Customs Service as required under the provision of section 2(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No.1 of 2012) and thereby committed an offence punishable under Section 2(5) of the Money Laundering (Prohibition) Act, 2011(as amended by Act No. 1 of 2012)”.

Ngene's charge read:

"Ngene Linus Chibuike on or about the 8th day of October, 2015 at Murtala Muhammed International Airport within the jurisdiction of the Federal High Court had in your possession cash in the sum of US$2,506,998 (Two Million, Five Hundred and Six Thousand, Nine Hundred and Ninety Eight United States Dollars) during your outbound clearance for travel to China en-route Addis Ababa and falsely declared the sum of US$11,500 (Eleven Thousand and Five Hundred United States Dollars) to the officers and men of the Nigeria Customs Service and thereby committed an offence punishable under section 2(5) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012)." 

Both men pleaded not guilty to the charges read to them. The presiding judge adjourned their cases to November 2 and granted them bail  in the sum of N50 million, one surety in like sum. The surety is to have reliable means of livelihood and verifiable landed properties.