Nigerian Customs Seize $578,000 Undeclared Cash At Lagos Airport

Nigerian customs seize $578,000 undeclared cash at Lagos Airport. The Nigeria Customs Service (NCS), Murtala Muhammed International Airport Command, has intercepted $578,000 in undeclared cash from an inbound passenger arriving from South Africa.

Customs Area Controller John Harrison revealed this on Friday, identifying the suspect as Okorie Sunday, who arrived on March 19, 2025, and attempted to smuggle the cash hidden on his body.

Violation of Financial Regulations

Harrison explained that the passenger declared only $279,000 but concealed an additional $299,000, violating Nigeria’s $10,000 cash declaration limit. He also had £100 and a counterfeit $250.

Nigerian Customs dollars

The seized cash was handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation.

EFCC’s acting Zonal Director, Ahmed Ghali, warned that failing to declare large sums of cash raises money laundering concerns and urged travelers to comply with financial regulations.

Nigeria Welcomes Crypto Firms Despite $80B Binance Lawsuit – Minister

Nigeria welcomes crypto firms despite $80B Binance Lawsuit – Minister. Nigeria remains open to cryptocurrency firms even as it pursues an $80 billion lawsuit against Binance, according to Information Minister Mohammed Idris.

Regulating, Not Crippling the Crypto Sector

Speaking to Semafor, Idris clarified that the government’s actions against Binance are part of efforts to strengthen financial regulations, not to stifle the crypto industry.

“There are other crypto companies operating in Nigeria without facing charges,” he said, emphasizing concerns over terrorism financing, money laundering, and tax evasion.

Nigeria’s Crypto Market and Binance Controversy

Nigeria, the world’s second-largest crypto adopter, saw $59 billion in transactions between July 2023 and June 2024.
Binance ceased operations in Nigeria in March 2024, denying all allegations.

The lawsuit mirrors past high-profile fines, including the $5.2 billion penalty against MTN in 2015.

Bitcoin

Government Moves to Improve Business Climate

Idris stated that Nigeria is revising visa policies, tax laws, and expatriate quotas to attract investment. Foreign direct investment dropped from $8.1 billion in 2009 to $1.6 billion in 2023.

Meanwhile, Nigeria’s Securities and Exchange Commission (SEC) issued provisional crypto licenses to Busha and Quidax, signaling openness to regulated crypto activities.

Busha manager Ngozi Okonye said the SEC’s move has boosted banking access and business confidence, reinforcing Nigeria’s evolving crypto landscape.

ICPC Stressed Importance Of Digital Reforms In NIS To Boost Governance, Citizen Welfare

ICPC stressed importance of digital reforms in NIS to boost governance, citizen welfare. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has stressed the importance of technology in tackling corruption and enhancing service delivery in the Nigeria Immigration Service (NIS).

ICPC Calls for Stronger Digital Security

Speaking at a nationwide sensitization campaign in Abuja, ICPC Chairman Dr. Musa Adamu Aliyu, SAN, represented by Demola Bakare, highlighted concerns over recruitment fraud, passport processing irregularities, and border operation misconduct.

Aliyu urged:
Enhanced cybersecurity for recruitment portals.
Strict enforcement of Standard Operating Procedures (SOPs).
Restructured Performance Management System (PMS).
Fixed administrative costs on passport applications to curb illegal fees.

While the NIS improved from non-compliance in 2023 to partial compliance in 2024 in the Ethics and Integrity Compliance Scorecard (EICS), Aliyu called for further reforms, including whistleblower protections and stricter penalties for corruption.

NIS Pledges Transparency and Efficiency

NIS Comptroller General, Kemi Nanna Nandap, reaffirmed the Service’s commitment to digitization and corruption-free operations.

ICPC

She outlined key anti-corruption innovations, including:
Automated passport processing.
Contactless application systems.
E-Gates, body cameras, and E-Visas.

Nandap emphasized that transparency and efficiency are vital for restoring public trust and attracting investment, stating that expanding digital reforms will enhance service delivery and eliminate corruption.

The sensitization campaign is part of broader efforts to promote accountability and ethical governance within the NIS.