2 Bizmen charged with failure to declare $5.4million

Thursday, October 22, 2015 6:41 pm

Ojukwu Nnamdi Rowland

The Economic and Financial Crimes Commission, EFCC, on Thursday charged two businessmen with failure to declare $5.4 million foreign currency in their possession, while on the way out of Nigeria.

The businessmen are Ojukwu Nnamdi Rowland and Ngene Linus Chibuike.

Both of them were arrested on the same date and arraigned today before Justice Ibrahim Buba of the Federal High Court . They were charged separately with one-count of illegal bulk cash movement and money laundering.

Rowland was alleged to be in possession of US$2,917,272 (Two Million, Nine Hundred and Seventeen Thousand, Two Hundred and Seventy Two United States Dollars) which he failed to declare to the authorities when he was arrested at the Murtala Muhammed International Airport, MMIA, en-route to China.

The charge reads: “that Ojukwu Nnamdi Rowland on or about the 8th day of October, 2015 at Murtala Muhammed International Airport within the jurisdiction of the Federal High Court had in your possession cash in the sum of US$2,917,272 (Two Million, Nine Hundred and Seventeen Thousand, Two Hundred and Seventy Two United States Dollars) during your outbound clearance for travel to Addis Ababa and failed to declare the said sum of US$2,917,272 to the officers and men of the Nigeria Customs Service as required under the provision of section 2(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No.1 of 2012) and thereby committed an offence punishable under Section 2(5) of the Money Laundering (Prohibition) Act, 2011(as amended by Act No. 1 of 2012)”.

When the charge was read to the accused, he pleaded not guilty.

In view of his plea, the prosecution counsel, G.K Latona prayed the court for a trial date and to remand the accused in prison custody.

Ngene Linus Chibuike

However, Justice Buba adjourned the case to November 2, and granted bail to the accused in the sum of N50 million, one surety in like sum. The surety is to have reliable means of livelihood and verifiable landed properties.

In the same vein, the EFCC also arraigned Ngene Linus Chibuike was alleged to have declared only US$11,500 (Eleven Thousand, Five Hundred United States Dollars) while being in possession of US$2,495, 498 (Two Million, Four Hundred and Ninety Five Thousand, Four Hundred and Ninety Eight United States Dollars) which he failed to declare to the authorities at the MMIA.

The charge read: “Ngene Linus Chibuike on or about the 8th day of October, 2015 at Murtala Muhammed International Airport within the jurisdiction of the Federal High Court had in your possession cash in the sum of US$2,506,998 (Two Million, Five Hundred and Six Thousand, Nine Hundred and Ninety Eight United States Dollars) during your outbound clearance for travel to China en-route Addis Ababa and falsely declared the sum of US$11,500 (Eleven Thousand and Five Hundred United States Dollars) to the officers and men of the Nigeria Customs Service and thereby committed an offence punishable under section 2(5) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).”

Justice Buba granted bail to the accused person and adjourned the case to November 2 for hearing.