The Nigeria Customs Service (NCS) has announced the deployment of an electronic currency (e-currency) declaration form as part of its anti-money laundering measures for travellers carrying cash into and out of Nigeria.

The service’s spokesperson, Abdullahi Maiwada, announced this on Thursday in Abuja.

Mr Maiwada said that the form was designed to help travellers declare any currency exceeding the legal threshold before arrival or departure.

The Anti-Money Laundering (Prevention and Prohibition) Act 2022 and the NCS Act 2023 mandate that travellers carrying over $10,000 (about N15.4 million) (or its equivalent in negotiable instruments) must declare it to the NCS.

Mr Maiwada explained that the electronic system would improve monitoring by allowing the NCS to share information with relevant authorities.

He said, “We have developed a system where, even before leaving your point of origin, you can scan a QR code, access the form, fill it out, and we will be able to see it from here. The NCS is set to deploy this soon.’’

According to Mr Maiwada, the NCS is working with airline operators to include announcements about the declaration requirement for sums exceeding the stipulated amount.

Mr Maiwada emphasised that the NCS was enhancing awareness on money laundering regulations and reinstating airport signage in English and French.

He noted that recent currency seizures at airports and borders were a result of increased vigilance by the NCS.

“We have reinforced searches at airports, entry, and exit points identified as high-risk areas for currency movement. It is not illegal to move any amount of currency, but when carrying more than $10,000 or its equivalent, travellers must declare it. If you conceal it, the law will take its course.

“In Kano Airport, a lady arriving from Saudi Arabia was caught with undeclared cash. Another case at the Nnamdi Azikiwe International Airport, Abuja, involved $193,000 concealed in a yoghurt carton. We have also intercepted undeclared CFA currency at the Idiroko border,” he said.

Mr Maiwada further stated that the reinforcement of cargo scanning points had been instrumental in detecting smuggled cash.

“Density variations in scanned images serve as red flags, prompting further physical examination,” he stated.

NCS recently intercepted undeclared $1.1 million and 135,900 Saudi Riyals at the Mallam Aminu Kano International Airport, Kano.

With these measures, NCS aims to strengthen Nigeria’s financial integrity and support efforts to remove the country from international financial watchlists.

(NAN)