By Erewunmi Peace

Two passengers have been arrested at the Murtala Muhammed International Airport (MMA1), Lagos, for allegedly being in possession of undeclared foreign currencies.

According to reports from Premium Times and Legit.ng, the suspects — identified as Yahaya Nasidi and Mahmud Nasidi — were intercepted by airport security officials and handed over to operatives of the Economic and Financial Crimes Commission (EFCC) for investigation.

Initial media reports had claimed the suspects were found with over $6.1 million in cash, but official EFCC sources later clarified that the actual amount recovered was $6,180 and £53,415, which were not properly declared as required by law.

The EFCC confirmed that an investigation is ongoing to determine the source of the money and whether it violates Nigeria’s anti-money laundering and foreign currency regulations.

“The Commission is committed to enforcing compliance with financial regulations and ensuring that all currency movements in and out of the country are properly declared,” an EFCC official reportedly stated.

Airport authorities have emphasized the need for travelers to adhere strictly to financial disclosure laws when entering or leaving Nigeria, warning that undeclared cash above the legal threshold could attract prosecution.

Nigeria’s Money Laundering (Prohibition) Act mandates travelers to declare any cash exceeding $10,000 or its equivalent when entering or leaving the country. Failure to do so may result in seizure of funds and possible prosecution.