Justice Deinde Dipeolu of the Federal High Court, sitting in Ikoyi, Lagos has convicted and sentenced one Okunfulure Olusola Steve to three months imprisonment for money laundering involving undeclared foreign currency.
Steve was arrested on March 28, 2025, by operatives of the Nigeria Customs Service (NCS) at the Murtala Muhammed International Airport, Ikeja, Lagos, for failing to declare $30,000 while attempting to board a Delta Airlines flight to Atlanta, United States.
According to the Economic and Financial Crimes Commission (EFCC), the passenger falsely declared that he was not in possession of any foreign currency, claiming he only had Nigerian Naira. However, a search conducted by Customs officers revealed the undeclared sum of $30,000 in his possession.
Following his arrest, he was handed over to the Lagos Zonal Directorate 2 of the EFCC for further investigation.
He was subsequently arraigned on a one-count charge of money laundering. The charge reads:
“That you, Okunfulure Olusola Steve, on the 28th day of March, 2025, in Lagos, within the jurisdiction of this Honourable Court, failed to make a declaration of the sum of $20,000 (Twenty Thousand United States Dollars) to the Nigeria Customs Service at the Murtala Muhammed International Airport, Ikeja, and thereby committed an offence contrary to and punishable under Section 3(5) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
The defendant pleaded guilty to the charge.
Following his plea, EFCC counsel, C.C. Okezie, called an operative of the Commission, Felicia Paul, to review the facts of the case. Paul confirmed that the defendant was handed over to the EFCC with $30,000 in his possession, which he failed to declare. She also told the court that Steve’s statement was taken under caution and that relevant documents, including the handing-over note from the NCS and other supporting materials, were submitted.
Justice Dipeolu admitted the documents as exhibits and, after reviewing them, found the defendant guilty as charged. The judge ruled: “I have read the exhibits, the statement of the defendant, and I found him guilty. He is accordingly convicted as charged.”
While praying for sentencing, the prosecution asked the court to order the forfeiture of the undeclared $20,000 to the Federal Government and to impose a custodial sentence on the defendant.
In his plea for leniency, defence counsel; Joel Ogundere described Steve as a first-time offender who was unaware of the disclosure policy. He told the court that his client is a family man with financial responsibilities and that the funds in question were legitimate, as reflected in his bank statements.
Ogundere urged the court to consider waiving the jail term and instead allow a forfeiture or a fine.
In delivering judgment, Justice Dipeolu sentenced Steve to three months imprisonment, effective from the date of his arrest, March 28, 2025. The court also ordered the forfeiture of the $20,000 to the Federal Government of Nigeria.
