A Chinese man identified as Li Yanping has been arrested by the Economic and Financial Crimes Commission,EFCC for allegedly concealing $300,000 at Abuja Airport.
The man was dragged before Justice Babatunde Ouadri of the Federal High Court, Abuja on one-count charge of concealing a sum of $300,000.
However, the suspect pleaded not guilty to the charge which read:“That you, Li Yanping on or about the 15th day of March, 2018 at Nnamdi Azikwe International Airport, Abuja, within the jurisdiction of the Federal High Court, had in your possession cash in the sum of $300,000 (Three Hundred Thousand United States Dollars) during your outbound clearance for travel to Dubai and failed to declare the said sum of $300,000 to the officers and men of the Nigerian Customs Service as required under the provision 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).”
It was reported that Li was apprehended when trying to board an Emirate flight, EK 8786 to Dubai after he failed to disclose the sum he was traveling with, in accordance to the law.
Pending trial, Justice Quadri granted the suspect bail in the sum of N10million with two sureties in like sum.
The sureties must not below salary GL12 in any of the Federal Ministries or Parastatals and must have traceable addresses. The sureties must comply with a bail bond accompanied with their international passport.
“The defendant is to be remanded in the custody of the EFCC until the perfection of his bail conditions”, the judge added.
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