|Add captionSheriff and the seized notes|
Nigerian authorities have arrested Abubakar Tijani Sheriff, a/k/a Abdul, at Murtala Mohammed International Airport ,* after he was found to be carrying $7,049.444, the equivalent of one billion Naira, which had not been declared. The arrest was announced by Nigeria's Economic and Financial Crimes Commission, the EFCC, who stated that Sheriff's travel records indicated that he was a regular international traveler, though he is only 24 years old; he is suspected of being a bulk cash smuggler.
Nigerian law apparently does permit cash movement, but does require that Source of Funds, and the reason for export, be declared. Sheriff was traveling from Lagos to Dubai, UAE. He reportedly admitted that he was carrying cash for twenty unidentified clients. The EEFC issued a statement for the benefit of the business community, to the effect that, should they wish to move capital out of the country, to use the banking system to accomplish that goal.
* More commonly known as MMIA. IATA code for this airport is LOS; ICAO designation is DNMM.