The Nigerian Financial Intelligence Unit (NFIU) has declared that cash above $10, 000 must be declared by air travellers at international airports at the point of checking into aircraft.
This was revealed in a statement by the Nigerian Customs Service (NCS) on Wednesday while announcing a partnership between it, the Economic and Financial Crimes Commission (EFCC), and the NFIU, to reinforce Nigeria’s anti-money laundering and counter-terrorism financing framework.
While quoting the Deputy General Manager, Currency Operations Department, Murtala Muhammed International Airport (MMIA), Maryesther Eworitse, who spoke on behalf of the Unit at a two-day capacity-building workshop in Lagos during the week, the Unit commended the NCS for fostering strong institutional collaboration.
Eworitse disclosed that joint intelligence operations had recently uncovered suspicious cash movements, including a case involving over $6 million at the Lagos airport.
“NFIU has installed currency declaration kiosks at international terminals and intensified public sensitisation to remind travellers of the mandatory declaration of cash above $10,000”, Eworitse said.
The Assistant Comptroller-General of Customs, Zone A, Mohammed Babandede, who represented the Comptroller-General of Customs, Adewale Adeniyi, said the initiative underscored the importance of inter-agency collaboration in combating money laundering and terrorism financing.
ACG Babandede noted that inter-agency collaboration remained a key policy focus of the Comptroller-General’s administration, adding that such partnerships had contributed significantly to national security efforts.
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He explained that participants were drawn from the NCS, EFCC, Department of State Services (DSS), Nigerian Immigration Service (NIS), and NFIU, reflecting a joint commitment to combating financial crimes.
“The selection of participants was deliberate, focusing on officers from airports and land borders where the movement of cash and human traffic is high. The training will enable participants to exchange ideas and develop actionable outcomes,” he said. He reaffirmed the Service’s commitment to securing Nigeria’s borders against illicit financial flows and urged participants to apply the knowledge gained to enhance vigilance and compliance in their respective commands.
Similarly, the EFCC Head of Investigations, Lagos Zonal office, Shehu Muhammad, emphasised the crucial role of synergy in dismantling sophisticated financial crime networks.
“The Nigeria Customs Service plays a lead role in the currency declaration regime, while the EFCC handles investigations and prosecutions. Strengthening inter-agency synergy will improve our effectiveness,” Muhammad said.
The workshop, jointly organised by the NCS and NFIU, aimed to strengthen institutional cooperation, improve compliance with financial regulations, and enhance Nigeria’s resilience against money laundering, terrorism financing, and other cross-border financial crimes.