Government must clampdown on money laundering, says Okafor

Chairman, Dynatech Group, Chigozie Chukwudi Okafor has said that the $8 million that was recently intercepted at the airport should be properly documented and people shouldn’t be allowed to travel outside the country with more than $10,000 dollars.

He said that it is very important that the government clamps down on the excess possession of both foreign and local currency, if the country is to achieve victory in the cashless economy policy. “If there is any need for you to be in possession of more than ten thousand dollars, the government must be aware. That means if you’re moving more than ten thousand dollars it has to pass through the banks or through customs/immigration legitimately.

You have to declare it and let the country know your destination and know why you are in possession of such amount. This can only support the quest for development and appropriate tax payment by companies or individual to the government.”