A Federal High Court in Ikoyi, Lagos, has sentenced Okunfulure Olusola Steve to three months in prison for money laundering after he failed to declare $30,000 in his possession at Murtala Muhammed International Airport (MMIA), Ikeja.
Justice Deinde I. Dipeolu handed down the sentence on Wednesday, April 2, 2025, after Steve pleaded guilty to the charge brought against him by the Economic and Financial Crimes Commission (EFCC).
Steve was apprehended by Nigeria Customs Service (NCS) operatives on March 28, 2025, for making a false currency declaration at the airport. He was subsequently handed over to the EFCC’s Lagos Zonal Directorate 2 for further investigation.
The EFCC arraigned him on a one-count charge of money laundering, which stated:
“That you, Okunfulure Olusola Steve, on the 28th day of March, 2025, in Lagos, within the jurisdiction of this Honorable Court, failed to declare the sum of $30,000 (Thirty Thousand United States Dollars) to the Nigeria Customs Service at Murtala Muhammed International Airport, Ikeja, thereby committing an offence contrary to and punishable under Section 3(5) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Upon reading the charge, Steve pleaded guilty.
Following his plea, EFCC prosecutor C.C. Okezie presented the facts of the case, calling EFCC operative Felicia Paul as a witness. Paul confirmed that Steve had been arrested with the undeclared $30,000 and was transferred to the EFCC for further questioning.
Justice Dipeolu reviewed the evidence, including the defendant’s statement, the NCS’s handover note, and the recovered cash, before delivering the verdict:
“I have read the exhibits, the statement of the defendant, and I find him guilty. He is accordingly convicted as charged.”
The prosecution then requested that the $30,000 be forfeited to the Federal Government and that Steve be sentenced accordingly.
Defense counsel Joel Ogundere pleaded for leniency, stating that Steve was a first-time offender unaware of the disclosure policy. He emphasized that his client was a family man with financial responsibilities and that the funds were legally sourced.
Ogundere urged the court to consider waiving a prison sentence, suggesting that Steve would be willing to forfeit the money or pay a fine instead.
Justice Dipeolu sentenced Steve to three months in prison, effective from the date of his arrest on March 28, 2025. The judge also ruled that the $30,000 be forfeited to the Federal Government.
Steve, a departing passenger on a Delta Airlines flight to Atlanta, initially declared that he had only Naira on him. However, a subsequent search by NCS operatives revealed the undeclared $30,000 in his possession.
