A businessman, Sunday Okorie, has been sent to prison by a Federal High Court in Lagos for allegedly failing to declare $299,000 and having counterfeit foreign currency.

The Economic and Financial Crimes Commission (EFCC) charged Okorie with four counts, including money laundering and importing fake money. According to the EFCC, he hid the undeclared money inside hair relaxer containers at Murtala Muhammed International Airport on March 19, 2025.

Authorities also accused him of bringing in and possessing fake $50 notes, totaling $250, with specific serial numbers. These actions reportedly violate Nigeria’s Money Laundering Act and laws against counterfeit currency.

Okorie pleaded not guilty in court. His lawyer asked that he be kept in EFCC custody, but the judge ordered his remand in Ikoyi Correctional Centre. The trial is set to continue on March 26, 2025.