EFCC ARRAIGNS AUSTRIAN FOR UNDECLARED $800,585, €651,505 AT LAGOS AIRPORT. (PHOTO). #PRESS RELEASE.

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 EFCC Arraigns Austrian For Undeclared $800,585, €651,505 At Lagos Airport The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, Okotie Eboh, Ikoyi, Lagos, on Friday, January 9, 2026, arraigned one  Kavlak Onal, an Austrian national arrested by the Nigeria Customs Service, NCS, for allegedly failing to declare the sums of $800,575 and €651,505 in his possession. He was arraigned before Justice Yelim Bogoro of the Federal High Court sitting in Ikoyi , Lagos.  Onal who was scheduled to travel on Emirates Airline to Dubai, was on Tuesday, December 16, 2025 intercepted  during a routine check at the AML/ CFT Currency Declaration Desk at the Murtala Muhammed International Airport, Ikeja, Lagos.
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CENTRAL BANK OF NIGERIA FINALLY SIGNED THE CURRENCY SWAP DEAL WITH CHINA.{PHOTO}.#PRESS RELEASE.

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The Central Bank of Nigeria have finally signed the currency swap deal we have been expecting for the past 2 years into existence with the Chinese government.


The importance of this is that since almost 70% of the goods we import come from China and Asia and 12% America why must we use Dollars to transact with China? from now instead of using dollars at N500 to 1dollar to import those goods, we can now buy Yuan at 47 naira to 1 Yuan and import those stuffs directly.


Instead of buying these goods in dollars in China, we will now buy them in Yuan which is 5times cheaper than dollars.



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