EFCC launches investigation into CFA 7m intercepted by Customs in Ogun
The Economic and Financial Crimes Commission (EFCC) has commenced an investigation into the sum of CFA 7 million intercepted by the Nigeria Customs Service (NCS) along the Idiroko border in Ogun State.
The probe began on Tuesday, March 25, 2025, following the handover of the foreign currency—equivalent to approximately N17 million—to the EFCC by the Area Comptroller of Customs for the Idiroko Command, Comptroller Mohammed Shuaibu. The handover took place in Idiroko, Ipokia Local Government Area of Ogun State.
Speaking during the event, Shuaibu disclosed that the cash, in CFA 5,000 denominations, was being smuggled from Nigeria to the Republic of Benin. He explained that customs operatives discovered the bag containing the money along the Baggage Road in Idiroko after it was abandoned by an unidentified courier.
“On March 20, 2025, our officers on duty at the outward Baggage Hall spotted a suspicious bag. Upon thorough examination, it was found to contain newly minted foreign currency notes,” Shuaibu said.
He emphasized that the failure to declare such cash amounts violates the Anti-Money Laundering (Prevention and Prohibition) Act, 2022, and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995.
The Customs Service, he added, remains committed to inter-agency collaboration, in line with the directives of Comptroller General of Customs, Bashir Adewale Adeniyi.
Receiving the seized cash, Moses Oguzi, Head of Investigations at the EFCC’s Lagos Zonal Directorate 2, praised the NCS for its vigilance in securing the nation’s borders. Speaking on behalf of Assistant Commander of the EFCC (ACE1) Ahmad Ghali, Oguzi assured that the Commission would conduct a detailed forensic investigation into the intercepted funds.
“This is a reminder that no effort will be spared in holding accountable those who seek to undermine the integrity of our financial systems,” he stated.
