MONEY LAUNDERING: Customs goes tough on currency trafficking

The Nigeria Customs Service (NCS) has served notice that it will enforce the law against money laundering to the letter.
Assistant Comptroller-General, Customs Headquarters, Alhaji Tahir Musa, indicated this much in a memo he issued on behalf of Comptroller-General of Customs Dikko Inde Abdullahi.
The document was addressed to all the five Deputy Comptrollers-General, the 13 Assistant Comptrollers-General, Customs Area Controllers (CACs), and Heads of Units.

The circular, a copy of which was sighted by SHIPS & PORTS DAILY, bore reference numberNCS/ADM/MGT/015/S.21/Vol and was dated 4th March, 2013, stated inter alia: “I am directed to inform all officers of the Service that Sect. 2 (5) of the Money Laundering (Prohibition) Act, (MLPA) 2011 has been amended.
“All officers of the Service are by this circular to note that the previous penalty of ‘forfeiture of nothing less than 25% of the undeclared currency’ at all our entry/exit points has been changed to outright forfeiture, on conviction.”

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