in

Nigerian Man Arrested With N454 Million Cash Forfeits The Money To Kenyan Government

A Nigerian man has been arrested with over N454million at the Jomo Kenyatta International Airport, Kenya.

A Dubai-bound Nigerian man, Muazu Bala. has forfeited over N454million (KSh100 million) which he was arrested with at the Jomo Kenyatta International Airport, Kenya.

Nigerian Man Arrested With N454 Million Cash Forfeits The Money To Kenyan Government 1

According to KenyaReport, a High Court in Kenya had on Wednesday ordered that the money which was confiscated from Muazu Bala to be deposited at Central Bank of Kenya.

It was gathered that Bala, who was headed for Dubai, was arrested at the Kenyan airport last Friday with the cash, with the Assets and Recovery Agency (ARA), suspecting it could be proceeds of crime or money laundering.

ARA had on Tuesday filed a case in court seeking orders to freeze the money seized from Bala last Friday, which is in three denominations; US dollars (880,000), Euros (60,000) and Naira (63,000).

READ:  After Emerging Senator Under YPP, Ifeanyi Ubah Dumps The Party For APC

“To effectively investigate the matter, DCI Transnational Organized Crime Detectives are working with the ARA. The seized cash is believed to be from International Criminal Cartels,” says the DCI.

“His failure to declare that he was carrying such a huge amount or documents to support the legitimacy of the cash, raises suspicion of money laundering,” says ARA.

In court documents, Bala said the cash was for conducting business in Dubai. But he did not have any supporting documents on the nature of the said business, or authorisation to move large amounts of cash.

READ:  Zamfara Killings Show How Valueless Lives Have Become Under Buhari - Moghalu

At most international airports, one must declare currency of over $10,000 (about Ksh1 million). While having large amounts of cash is technically not illegal, failure to declare it can lead to forfeiture.

Nigerian Man Arrested With N454 Million Cash Forfeits The Money To Kenyan Government 2

kanyiDaily had also reported how the Nigeria Customs Service (NCS) intercepted the sum of $8.6 million stashed inside a bus at Murtala Muhammed International Airport in Lagos State.

READ:  "N13.5m Not Enough To Run An Office As Senator In Nigeria" - APC Senator Cries Out That They're Underpaid

Leave a Reply

Your email address will not be published.

Ohanaeze, MASSOB Blasts Northern Elders Over Allegations Of Violence Against Igbos 10

Ohanaeze, MASSOB Blasts Northern Elders Over Allegations Of Violence Against Igbos

Nigerian Government Lied, We Didn't Agree To Suspend Strike On December 9 - ASUU 11

Nigerian Government Lied, We Didn’t Agree To Suspend Strike On December 9 – ASUU