Anti-corruption and elections / EFCC

Money Laundering: EFCC Closes Case against Chinese National, Li Ya Ping

The Economic and Financial Crimes Commission, EFCC, on June 25, 2018 closed its case against Li Ya Ping, a Chinese national who is being prosecuted for concealing the sum of $300,000 (about N108 million), while attempting to board a flight to Dubai, and failing to declare same. Ping is standing trial before Justice Babatunde Quadri of the Federal High Court, Abuja, on a one-count charge of money laundering, for contravening Section 2 (3) (5) of the Money Laundering (Prohibition) Act, 2011 (as amended). It states that: “Transportation of money or negotiable devices in extra of $10,000 or its eq…