"We have had situations where even individuals transport money to the bank in bullion vans in this country."
The Chairman of Section on Public Interest and Development Law (SPIDEL) of the Nigerian Bar Association (NBA), Monday Ubani, has spoken on the recent conviction of Doyin Okupe, the Director-General of the Labour Party presidential Campaign Organisation.
A Federal High Court in Abuja, on Monday, jailed Mr Okupe for two years with an option of fine.
The court held that having received cash payments without going through a bank in excess of the threshold statutorily allowed, Mr Okupe contravened Section 16 (1) and (2) of the Money Laundering Act.
Mr Okupe has since paid a fine of N13 million to avoid serving the sentence.
Reacting to the conviction of the LP chieftain, Mr Ubani, an Abuja-based public interest lawyer, said although the law has been in existence, its resumed implementation will send many more Nigerians to jail.
"I can assure you now that as we have started to implement this law, many Nigerians will go to jail," Mr Ubani said when he appeared as a guest on Channels TV's Sunrise Daily on Tuesday.
"We are not supposed to be given or carry an amount in excess of N5 million at a time."
Mr Ubani said, apart from politicians, private individuals also carry money in excess of N5 million against the provision of the act.
He added that many of the individuals are not aware of the act, but that ignorance is not an excuse for its violation.
"We know people who carry N20 million, N30 million (in cash), especially those in authority. We have had situations where even individuals transport money to the bank in bullion vans in this country," he said.
The lawyer said the act was intended to reduce the frequent carrying of cash and encourage a cashless economy in the country.
Asked what cattle dealers should do to avoid violating the act given the capital-intensive nature of their businesses, the former vice president of the NBA said people who engage in such business should devise a "strategy" to avoid violating the law.
"So, if you are doing business where cash is coming in, try to have an arrangement with a bank to evacuate the money. It is good for us and for the economy. We are really trying to avoid destroying this naira," he said.
Okupe's fate
The SPIDEL chairperson said Mr Okupe can appeal the case if he was not satisfied with the judgement, despite his payment of the N13 million fine.
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"He has a right to appeal. And if the court sets aside his conviction, he will get back his N13 million," he said.
"But if he wants to leave it that way, he carries the burden of bearing an ex-convict for the rest of his life."
Not targeted at Peter Obi
There have been insinuations in some quarters that the conviction of Mr Okupe was targeted at his principal and the LP presidential candidate, Mr Obi.
But Mr Ubani refuted the insinuations, explaining that the court trial of the politician began even before Mr Obi joined the presidential race.
"I don't think that there is any target against any person. This is an issue of evidence. There is sufficient evidence that somebody has trespassed the law. The court is right to do the right thing based upon the evidence presented before it," he stated.
He said the LP should carry out an "evaluation" to determine if Mr Okupe with the "baggage" would be fit to carry on as the party's campaign director.
"But if they (LP) want my advice (on Mr Okupe continuing as their campaign director), I will tell them that, at this point, you must avoid situations where the opposition will not use this against you," the lawyer added.
