Posts
A High Court in Kenya on Wednesday ordered over N454million that was confiscated from a Nigerian national, Muazu Bala, at the Jomo Kenyatta International Airport to be deposited at Central Bank of Kenya.
According to KenyaReport, Bala was arrested at the airport last Friday with the cash, with the Assets and Recovery Agency, suspecting it could be proceeds of crime or money laundering.
ARA had on Tuesday filed a case in court seeking orders to freeze the cash. The money seized from Bala last Friday is in three denominations; $880000 (N335m), € 60000 (N27.6m) and N63000
“Bala was headed for Dubai. His failure to declare that he was carrying such a huge amount or documents to support the legitimacy of the cash, raises suspicion of money laundering,” says ARA.
In court documents, Bala said the cash was for conducting business in Dubai. However, he did not have any supporting documents on the nature of the said business, or authorisation to move large amounts of cash.
No comments