Operatives of the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) have launched an investigation into the sum of CFA 7 million (approximately ₦17 million) intercepted by the Nigeria Customs Service (NCS) at the Idiroko Border in Ogun State.
The investigation began on Tuesday, March 25, 2025, after the cash was handed over to the EFCC by the Customs Area Comptroller for the Idiroko Command, Comptroller Mohammed Shuaibu, at Idiroko in Ipokia Local Government Area.
Shuaibu explained that the foreign currency, consisting of 5,000 CFA denomination notes, was being smuggled from Nigeria to the Republic of Benin. The bag containing the cash was discovered by NCS operatives on March 20, 2025, along Baggage Road in Idiroko after it was abandoned by an unidentified courier.
“Our officers, during a routine search at the outward Baggage Hall, found a suspicious bag. Upon examination, it was discovered to contain new mint foreign currency notes amounting to 7,000,000 CFA,” Shuaibu stated.
He added that failure to declare such large sums of cash violates the Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995. Handing over the cash to the EFCC, he said, reflects the Customs Service’s commitment to inter-agency collaboration, in line with the policy direction of the Comptroller General of Customs, Bashir Adewale Adeniyi.
Receiving the seized cash, Head of Investigations at the EFCC Lagos Zonal Directorate 2, Moses Oguzi, commended the Customs Service for its vigilance. Oguzi, who represented the acting Zonal Director, Assistant Commander of the EFCC (ACE1) Ahmad Ghali, assured that the Commission would conduct a thorough forensic investigation.
“This is a reminder that no effort will be spared in holding accountable those who seek to undermine the integrity of our financial systems,” Oguzi said.
