Chinese gets N10million bail after trying to smuggle $300K out of Nigeria to Dubai

A Chinese national, Li Yanping has gotten a bail of N10million after he was arrested and arraigned at a Federal High Court sitting in Abuja for allegedly trying to smuggle the sum of $300,000 (N108m) out of Nigeria to Dubai, United Arab Emirates.

Nigeria's anti-graft agency, the Economic and Financial Crimes Commission arraigned Yanping, before Justice Babatunde Quadri after he was arrested for failing to inform officers of the Nigerian Customs Service as required by Section 2 (3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).

Yanping was arrested by the Presidential Task Force on Trans Border Cash Movement on March 15, 2018, for failure to disclose the said sum while attempting to board an Emirate flight, EK 8786 en route to Dubai.

Yanping charges

According to a statement from the anti-graft agency, the charge against Yanping read, “That you, Li Yanping, on or about March 15, 2018, at the Nnamdi Azikwe International Airport, Abuja, within the jurisdiction of the Federal High Court, had in your possession cash in the sum of $300,000 during your outbound clearance for travel to Dubai and failed to declare the said sum of $300,000 to the officers and men of the Nigerian Customs Service as required under the provision of Section 2 (3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012), thereby committing an offence punishable under Section 2(5) of the Money Laundering (Prohibition) Act, 2011 ( as amended by Act No. 1 of 2012).”

Yanping had pleaded not guilty to the charge as his counsel, Chinedu Eze, prayed the court to admit the defendant to bail after the EFCC's counsel, Ene Emonye, asked the court to remand Yanping while a date for trial was fixed.

Court's decision

Justice Quadri of the Federal High Court, Abuja, granted Yanping bail in the sum of N10m with two sureties in like sum.

The sureties, according to him, must not be below salary grade level 12 in any of the federal ministries or parastatals, and must have traceable addresses.

Justice Quadri added that the sureties must comply with bail bonds accompanied with their passports.

“The defendant is to be remanded in the custody of the EFCC until the perfection of his bail conditions,” the judge said while the case was adjourned till April 17, 2018 for hearing.