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Nigeria: Nipost Intercepts N8.4bn Fake Currencies
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Leadership (Abuja)
19 March 2008
Posted to the web 19 March 2008
Betrand Nwankwo
Abuja
The Nigerian Postal Services (NIPOST) has intercepted fake foreign currencies valued at about N8,357,971,204.00 in Nigerian money which were shifted to Nigeria from different countries overseas. Postmaster-General of the Federation, Mallam Ibrahim Mori Baba disclosed this at a press briefing in Abuja yesterday.
The money which are in different currencies ranging from dollar, British pound sterling and Euros were intercepted in January and February, 2008.
Also intercepted during the months include, 2,003 bank cheques, and 37 fake passports which are meant to be shipped to overseas by the culprits.
The breakdown showed that in the month of January, $1, 840,000.00, Euros 703,710.00 and 296,631,00 British pound sterling valued to about N7,584,406,210.00 when converted to Nigerian money were intercepted.
For the month of February, $2,853,979.00, Euros 890,980.00 and 1,186,650.00 British pound sterling all valued at about N7,735,649,94 when converted to Nigerian currency were also intercepted in February this year with the assistance of security agencies at the port.
Speaking at the briefing, the postmaster-general stated that some of the items were concealed in some packets that ordinarily would have passed as normal parcels. "It take well-trained security operatives to suspect that a pair of shoes or slippers would contain currencies shipped into the country for dubious reasons".
He noted that some items sent by most Nigerians living abroad to their relations in Nigeria do not always carry invoices and mostly under-declared, saying that the rules declared that under-declared items should allotted estimated cost/value by the customs for the purpose of assessment.
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He stated that NIPOST has received a parcel containing a laptop whose market value is $1,500 but was allegedly declared to worth $20 with a freight cost of $82. "It is dubious declaration that the customs try to correct that some members of the public consider as extortion", Mori Baba said.
On the presence of the officials of the customs service in the post office, the postmaster-general said the customs in the post offices are meant to ensure that all in-pound parcels are assessed at the point of entry and released for delivery.
It would be recalled that NIPOST had in 2007 intercepted some foreign fake currencies worth N28,810,230,664, 7831 scam letters and over 100 forged certificates with the assistance of the officials Economic and Financial Crimes Commission (EFCC), Nigeria Drug Law Enforcement Agency (NDLEA) and the customs..
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