Businessman Forfeits Undeclared $41,000


The Economic and Financial Crimes Commission (EFCC) successfully secured the conviction of one Agumandu Christopher Nnamdi, before Justice F.N Yunusa of the Federal High Court Enugu, Enugu on one-count charge bordering on money laundering.

 The convict was arrested by a team of Presidential Trans-Border Task Force of the Nigeria Customs Service on  September 5, 2015 at the Akanu Ibiam International Airport Enugu for falsely declaring the sum of $9,500 out of the total sum of $51,000 on his way to China on an alleged business trip, an offence contrary to the Foreign Exchange (Monitoring and Miscellaneous) Act, Cap F34 Laws of the Federation of Nigeria, 2012.

He was subsequently handed over to the commission for prosecution.
He accused of contravening section 12 of the Foreign Exchange(Monitoring and Miscellaneous) Act, Cap F34 Laws of the Federation of Nigeria,2004 committed an offense punishable under Section 2(5) of the Money Laundering Prohibition Act,2011 as amended by Section 2 of the Money Laundering Prohibition (Amendment) Act, 2012.

The prosecuting counsel, R.E Ajobiewe, told the court that the accused person has entered a plea bargain agreement in line with Section 272 of the Administration of Criminal Act and applied that the court adopt the plea bargain agreement.

The lead defence counsel, A.O.K  Agbawo however prayed the Court to tamper justice with mercy adding that the accused is a hardworking young man and the said money was legitimately earned. He further applied that the accused person’s passport and the said money be returned to him.

The court however found the accused person guilty, dismissed the application of the defense counsel and ordered that the undeclared sum of money totaling $41,000 be forfeited to the federal government.