Nigeria, Aug. 19 -- The Federal High Court in Lagos has convicted and sentenced a businessman, Duru Damian, to three months' imprisonment for failing to declare $49,000 to the Nigeria Customs Service (NCS) at the Murtala Muhammed International Airport (MMIA).

The judge, Dehinde Dipeolu, delivered the judgment on Tuesday after Mr Damian pleaded guilty to a one-count brought against him by the Economic and Financial Crimes Commission (EFCC).

According to the charge, Mr Damian was found in possession of $49,000 on 11 August at MMIA without declaring it to Customs, an offence under Section 3(5) of the Money Laundering (Prevention and Prohibition) Act, 2022.

The law requires individuals to declare cash or negotiable instruments exceeding US...