The Nigeria Customs Service (NCS) is ready to introduce an digital system geared toward enhancing the method for travellers declaring money carried into or out of Nigeria.
The spokesperson for the NCS, Abdullahi Maiwada, disclosed this throughout an interview with the Information Company of Nigeria (NAN) in Abuja on Thursday.
He defined that the initiative is a part of efforts to strengthen Nigeria’s anti-money laundering framework and enhance compliance with monetary rules.
“The Nigeria Customs Service (NCS) has introduced the deployment of an Digital-Foreign money (E-Foreign money) declaration kind as a part of its anti-money laundering measures for travellers carrying money into and out of Nigeria,” the NAN report learn partly.
It additional acknowledged: “Maiwada mentioned that the shape was designed to assist travellers declare any foreign money exceeding the authorized threshold earlier than arrival or departure.”
Maiwada elaborated on the system, stating, “We now have developed a system the place, even earlier than leaving your level of origin, you may scan a QR code, entry the shape, fill it out, and we can see it from right here.”
He famous that the system could be rolled out quickly and is designed to reinforce monitoring and facilitate info sharing with related authorities.
Extra insights
The Anti-Cash Laundering (Prevention and Prohibition) Act 2022 and the NCS Act 2023 mandate that travellers carrying over $10,000 (about N15.4 million) or its equal in negotiable devices should declare it to Customs authorities.
Maiwada added that the NCS is collaborating with airline operators to lift consciousness about this requirement by bulletins and plans to reinstate signage in English and French at airports and border factors.
With this digital declaration system, the NCS goals to make sure stricter compliance with worldwide monetary requirements and bolster Nigeria’s efforts to fight cash laundering actions.
What it’s best to know
A couple of days in the past, the Nigeria Customs Service (NCS), Murtala Muhammed Worldwide Airport (MMIA) Command, handed over $578,000 in seized money to the Financial and Monetary Crimes Fee (EFCC) after a passenger made a false foreign money declaration.
The passenger, recognized as Okorie Sylvernus Sunday, arrived in Lagos from Johannesburg on South African Airways Flight SA60. On the airport’s foreign money declaration desk, he initially declared $279,000. Nonetheless, throughout a routine inspection, customs officers uncovered a further $299,000 hid in a number of packages, bringing the full quantity to $578,000.The EFCC has since arraigned Sunday in Lagos on prices of cash laundering in reference to the undeclared funds.
