By Mazhun Idris

Nigeria dey known as one big economic power for Africa, but wahala dey as financial crimes like money laundering, cybercrime, fake currency, and other financial kasala don dey increase.

Even though World Bank dey project say Nigeria economy go grow reach 3.5% by 2025, di increase for financial fraud don make di country dey shine eye well well for di matter. Di Economic and Financial Crimes Commission (EFCC), wey be Nigeria main oga for financial crime, don already carry one suspect go court wey dem catch for Murtala Muhammed International Airport for Lagos, di economic center of di country.

Di court talk say di person no declare $578,000 wey e carry for cash, and dem don give am four charges, including money laundering and fake currency.

Shuaibu Idris Miqati, wey be oga for one Lagos-based financial intelligence company, Time-Line Consult Ltd, talk say di wahala dey show di disadvantage of di open global economic system wey we dey now.

"Di way dem dey catch international travellers wey no declare di cash wey dem dey carry show say loopholes still dey, even though e no dey as bad as before," Miqati yarn give TRT Afrika. "But corruption and crime network don dey grow pass Nigeria border."

For Nigeria, di law no allow make person carry cash wey pass $10,000 without declare am. So, anybody wey wan pass di limit go need use illegal way.

Most times, di people wey dem dey catch for airport dey try move money wey dem get from bad things like human trafficking, drug business, and illegal mining. Money laundering na di way people dey hide di source of di money wey dem get illegally, and e dey affect di economy bad bad.

"When people dey do transactions wey no pass through bank, e dey scatter di economy. E go make GDP no balance, and e go affect tax, planning, and government policy," Miqati explain.

Money laundering dey also help corruption, political stealing, and organised crime like human trafficking, drug business, cybercrime, tax wahala, and terrorism.

Di Central Bank of Nigeria don start campaign against currency smuggling and dey try make more people join di financial system.

But why people and even businesses still dey risk carry hard currency even with di strong airport security?

Miqati talk say na because of di inflation wahala wey dey Nigeria. Di way di value of money dey drop dey make people dey see foreign currency as better way to protect dia money.

Money mules, wey be people wey dey carry illegal money cross border, dey use both official and unofficial way to pass airport security.

For Lagos airport, EFCC catch one man wey declare only half of di $578,000 wey e carry from South Africa. When dem search am, dem see di remaining money hide for different packets.

For March, Nigerian border security and financial intelligence talk say dem make big progress for di fight against money laundering. Dem catch one traveller for Mallam Aminu Kano International Airport wey carry $1.154 million and 135,900 Saudi riyals hide inside packs of date palm.

Di EFCC don take over di case for further investigation and court matter. If di person guilty, di law talk say di government fit collect all di money wey e no declare.

Experts like Miqati believe say di financial system for Nigeria fit face more wahala as criminal networks dey find new way to dodge security.