Nigeria Customs Service, Ogun I Command Seizes Smuggled Foreign Currency Worth 7 Billion CFA

Nigeria Customs Service, Ogun I Command Seizes Smuggled Foreign Currency Worth 7 Billion CFA

Comptroller Muhammed  Shuaibu(,L),handing over the seized foreign currency to EFCC representative,Assistant Commander Oguzi Moses, head of investigation, EFCC, Lagos Zone 2

By Frank Odinukaeze

The Nigeria Customs Service (NCS), Ogun I Area Command, under the leadership of Customs Area Controller Compt. Mohammed Shuaibu, has recorded another milestone in its fight against smuggling. On Tuesday, March 25, 2025, the command held a media briefing at its headquarters in Idiroko to highlight its latest achievement in curbing illegal activities across Nigeria’s borders.

In his address, Comptroller Mohammed Shuaibu revealed that on March 20, 2025, during routine inspections at the outward baggage hall of the international corridor, officers identified a suspicious bag. Upon thorough examination, the bag was found to contain newly minted foreign currency worth 7 billion CFA. The discovery represents a significant breach of regulations stipulated in the Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995.

Comptroller Shuaibu emphasized the importance of interagency collaboration in combating financial crimes and announced the official handover of the seized currency to the Economic and Financial Crimes Commission (EFCC). He highlighted the critical role of the EFCC in enforcing laws related to money laundering and terrorism financing. This handover, conducted under the directive of Comptroller General of Customs Bashir Adewale Adeniyi MFR, serves to strengthen ties between NCS, EFCC, and other sister agencies, aligning with the policy thrust of the Comptroller General of Customs.

The Area Controller also reiterated the command’s commitment to implementing Federal Government fiscal policies and enforcing extant laws governing border operations. He urged border communities to shun smuggling activities and emphasized the administration’s zero-tolerance approach to revenue leakages and violations of economic and fiscal policy measures.

This latest seizure sends a clear message to individuals involved in smuggling that the NCS remains resolute in its mission to suppress unlawful activities and enforce financial regulations, ensuring the integrity of Nigeria’s borders.
In his reaction, the Assistant Commander Oguzi Moses, head of investigation, EFCC, Lagos Zone 2 lauded the Nigeria Customs Service (NCS) for its vigilance in intercepting the illicit funds at the Idiroko border.
Speaking on behalf of the EFCC Chairman, Mr. Olanipekun Olukayede, and the Acting Zonal Director of EFCC Lagos Zone 2, Ahmed Ghali, Oguzi expressed deep appreciation for the synergy between both agencies.

“I sincerely thank the Nigeria Customs Service for this collaboration and their unwavering commitment to securing our borders. The interception of 7 million CFA stands as proof of the critical role interagency cooperation plays in tackling economic and financial crimes,” he stated.

Commending the Area Controller, MS Shuaibu, and his officers, he emphasized that such professionalism is key to preventing illicit financial flows and money laundering.
“As we take over this case, the EFCC will conduct a thorough investigation to determine the source and intent of these funds. Our forensic lab will verify their authenticity, ensuring that due process is followed,” he assured.
He reaffirmed its dedication to combating corruption and financial crimes, warning that those attempting to undermine Nigeria’s financial system will be held accountable.
The agency also extended gratitude to other security forces, including the Nigerian Immigration Service, for their continued efforts in safeguarding the nation’s borders.
“This interception is a reminder that together, we are making a difference in the fight against financial crimes. We remain steadfast in our mission to uphold the integrity of our economy,” Assistant Commander Oguzi said.
The media briefing concluded with an appeal to the press and stakeholders to support the ongoing efforts of the Nigeria Customs Service in maintaining border security and safeguarding the nation’s economy.