Money Laundering: South African Lady To Forfeit $374,355.00 To FG

Justice C.M.A Olatoregun of the Federal High Court, has convicted a South African, Ngqula Nosisi Pam, for money laundering and bulk cash smuggling.

Justice Olatoregun ordered that the convict forfeit the entire sum of $374,355.00 to the Federal Government of Nigeria.

The judge also ordered the EFCC to remit the money to the Federal Government Account within 29 days and file notice of remittance at the court.

Advertisements

Justice Olatoregun admonished the convict to shun illegality in the future.

The one count charge reads: “That you Ngqula Nosisi Pam on or about March 24, 2015 at Murtala Muhammed International Airport within the jurisdiction of the Federal High Court had in possession, cash in the sum of $374,355.00, which you transported from the Republic of South Africa to Lagos and failed to declare the sum of $374,355.00 to the officers and men of the Nigeria Customs Service as required under the provisions 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.”