Lagos Court Remands Businessman Over $299,000 Concealment and Counterfeit Currency
Justice Deinde Dipeolu of the Federal High Court in Lagos has ordered the detention of businessman Sunday Okorie at the Ikoyi Correctional Centre. The court ruling followed allegations that he failed to declare $299,000 and was found in possession of counterfeit foreign currency.
The Economic and Financial Crimes Commission (EFCC) brought Okorie before the court on a four-count charge, including money laundering and illegal importation of counterfeit currency.
Undeclared Money Hidden in Relaxer Containers
According to the EFCC prosecutor, Chineye Okezie, the defendant concealed the undeclared foreign currency inside hair relaxer containers. The alleged smuggling attempt occurred at Murtala Muhammed International Airport, Ikeja, on March 19, 2025.
Additionally, Okorie was accused of importing and possessing counterfeit $50 bills amounting to $250, which bore specific serial numbers.
Violation of Anti-Money Laundering and Counterfeit Currency Laws
The prosecution emphasized that the alleged offenses contravened key financial crime laws, including:
- The Money Laundering (Prevention and Prohibition) Act, 2022
- The Counterfeit Currency (Special Provisions) Act
During his court appearance, Okorie pleaded not guilty to all charges. His defense counsel, Uche Okoronkwo, requested that he be remanded in EFCC custody rather than a correctional facility.
However, Justice Dipeolu denied the request and ordered his detention at the Ikoyi Correctional Centre. The trial has been adjourned to March 26, 2025.
For more details on money laundering cases in Nigeria, visit the official EFCC website.
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