Revealed! Customs Seizes N653 Million at Kano Airport, BDCs react

• Operators of Kano's Bureau De Change expressed interest implicit the caller seizure of implicit ₦653 cardinal successful unreported overseas currency by the Nigeria Customs Service (NCS)
• Dr. Sadik Muhammad Abdulhamid stated that galore BDC members person suffered wellness issues arsenic a effect and appealed to Kano State Governor Abba Kabir Yusuf and President Tinubu for intervention
• In response, the NCS defended the seizure, citing the Money Laundering (Prohibition) Act, which mandates the declaration of funds exceeding US$10,000.

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Operators of Kano's Bureau De Change (BDC) expressed interest astir the authorities' caller seizure of overseas monies that had not been declared.

Photo Credit: Contributor
Source: Getty Images

The Nigeria Customs Service (NCS), Kano/Jigawa Area Command, precocious seized much than N653 cardinal successful unreported overseas currency astatine Aminu Kano International Airport (MAKIA), according to Daily Trust.

Dr. Sadik Muhammad Abdulhamid responded to the quality by stating that members of the Bureau De Change business assemblage had experienced terrible wellness issues arsenic a effect of the move. However, successful effect to their comments, the NCS stated that the authorities had acted legally.

Section 2 (subsections 3-5) of the Money Laundering (Prohibition) Act 2011 (as amended) states: "Transportation of currency oregon negotiable instruments successful excess of US$10,000.00 oregon its equivalent by individuals successful oregon retired of the state shall beryllium declared to the Nigeria Customs Service."

In an effort to enforce the money declaration rule, the NCS has accrued its surveillance astatine respective introduction points successful caller years.

"Honestly, galore of america are successful a choky situation. Some person developed superior illnesses — hypertension, and others are presently bedridden owed to what happened," Abdulhamid said.

He urged Kano State Governor Abba Kabir Yusuf and President Bola Ahmed Tinubu to intervene and resoluteness the issue, emphasizing that the wealth was acquired legally and that the operators were lone helping Kano nationals employed overseas.

"I americium appealing connected behalf of those who were arrested connected wealth laundering allegations astatine Aminu Kano International Airport, successful up to 3 abstracted batches. We are appealing to President Bola Ahmed Tinubu, Governor Abba Kabir Yusuf, and each different applicable stakeholders to travel to the assistance of the Bureau De Change operators whose wealth was intercepted.""Of course, determination was a mistake successful not declaring the funds earlier bringing them in. But I privation to guarantee everyone that it was morganatic money. What truly happened is that we were conscionable helping our brothers and sisters moving abroad, particularly successful Saudi Arabia.""When they privation to nonstop wealth backmost home, our radical cod it successful exchange. The Nigeria Customs Service intercepted the wealth and handed it implicit to the Economic and Financial Crimes Commission (EFCC). We admit the mode they are working, but we privation to guarantee them that the wealth was legitimately earned and does not beryllium to a azygous person, but to galore people."

Photo Credit: Customs
Source: Getty Images

Customs Reacts

In effect to their request, Abdullahi Maiwada, the Nigeria Customs Service's National Public Relations Officer, said the Customs bureau had seized the overseas wealth successful accordance with the law.

"The Nigeria Customs Service acted connected quality to intercept the magnitude astatine the Mallam Aminu Kano International Airport successful Kano. The instrumentality states that if you are travelling with currency supra $10,000, you indispensable state it, which they did not. We seized the wealth and handed it implicit to the due authorities.""If anyone knows they are not utilizing overseas currency to concern transgression oregon terrorism, wherefore are they acrophobic to state it successful enactment with the law?" helium said.

CBN slashes customs speech complaint

Legit.ng reported that the Central Bank of Nigeria (CBN) has slashed customs exchange rates for importers clearing goods astatine the ports.

According to information from Nigeria's commercialized portal, importers looking to wide goods volition wage N1,579.941 per dollar from Monday, May 26, 2025.

The latest complaint represents a 1.14% oregon N18.28 simplification compared to the N1,598.22/$ speech complaint quoted connected Monday, May 19.

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Source: Legit.ng