Nigeria Customs Intercepts ₦17 Million in Foreign Currency at Ogun Border, Hands Over to EFCC

The Nigeria Customs Service (NCS), Ogun 1 Command, has intercepted 7 million CFA, equivalent to ₦17 million, at the Idiroko border in Ogun State. The Area Controller, Mohammed Shuaibu, disclosed this during a press briefing at the command headquarters, where the seized currency was officially handed over to the Economic and Financial Crimes Commission (EFCC).

According to Shuaibu, the foreign currency was intercepted on Thursday while being smuggled into the Republic of Benin. He explained that the money was concealed inside a bag, which operatives of the command suspected to contain unlawful items. Upon a thorough inspection, newly minted foreign currency notes were discovered hidden inside the bag.

He emphasized that the confiscated funds, also valued at $11,000, were transferred to the EFCC, the agency responsible for tackling illicit financial flows. Shuaibu noted that beyond enforcing fiscal policies, the collaboration between the NCS and other security agencies is critical in curbing illegal transactions and ensuring national financial security.

“We must continue to send the right signal to discourage smuggling and illegal financial activities. Under my leadership, this command remains committed to implementing the Federal Government’s fiscal policies and ensuring strict compliance with regulations governing international trade. I urge border communities to refrain from engaging in smuggling and other unlawful practices,” Shuaibu stated.

Receiving the seized currency, the Head of Investigation, EFCC Lagos Zone 2, Oguzi Moses, commended the customs operatives for their vigilance. He assured that a full investigation would be conducted to determine the source and purpose of the illicit funds.

“As we take over this case, the EFCC will ensure a thorough investigation to uncover the circumstances surrounding this interception. No effort will be spared in holding accountable those who seek to undermine the integrity of our financial system,” Oguzi affirmed.

The interception highlights the continued efforts of Nigerian security agencies in combating illegal financial transactions and strengthening border security to prevent illicit cash flows.