On Wednesday, April 2, 2025, Justice Deinde I. Dipeolu of the Federal High Court in Ikoyi, Lagos, sentenced Okunfulure Olusola Steve to three months in prison for failing to declare $30,000 in cash at Murtala Muhammed International Airport, Ikeja, Lagos. This ruling highlights the ongoing efforts by Nigerian authorities to combat money laundering and illicit financial activities. The sentence underlines the importance of complying with currency declaration laws when departing from the country.
Steve was arrested on March 28, 2025, by operatives from the Nigeria Customs Service (NCS) after he tried to leave Nigeria without declaring foreign currency. While being processed at the Currency Declaration Desk, Steve falsely claimed he was only carrying Naira. However, during a routine search, customs officers discovered $30,000 hidden on him. The NCS officers immediately took action, leading to Steve’s arrest and further investigation.
Court Convicts and Sentences the Defendant
Following his arrest, Steve was transferred to the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) for further questioning. The EFCC charged him with a violation of the Money Laundering (Prevention and Prohibition) Act of 2022 for failing to declare the $30,000.
In court, Steve pleaded guilty to the charge after the facts of the case were presented. EFCC prosecutor C.C. Okezie reviewed the evidence, including the $30,000 in cash and the official handing-over note from NCS. The court found Steve guilty, and Justice Dipeolu convicted him as charged.
Court Orders Forfeiture of Undeclared Funds to Federal Government
After conviction, Justice Dipeolu sentenced Steve to three months in prison, starting from the date of his arrest on March 28, 2025. Additionally, the court ordered that the undeclared $30,000 be forfeited to the Federal Government of Nigeria. This ruling aligns with efforts to combat illicit financial transactions at the nation’s borders and ensure compliance with anti-money laundering laws.
This conviction follows a similar case earlier in the year, where another passenger was convicted for failing to declare $578,000. These cases reinforce Nigeria’s dedication to preventing money laundering and promoting transparency in financial dealings.
