A traveller, Samson Olukunmi learned the value of truthfully declaring the foreign currency in his possession to the authority concerns as the operatives of the Department of State Service, DSS, arrested him at the Muritala Muhammed International Airport, Lagos for been in possession of undeclared $70,000.
The suspect, Olukunmi who resides at 14 Omidun Street, Lagos Island was accosted at the airport by the DSS operatives on suspicion of money laundering.
P.M.EXPRESS gathered that he however denied having such money in his possession but he was subjected to a search after which the foreign currency was found hiding in his luggage.
He was immediately arrested and taken to the DSS office for further interrogation.
Our correspondent gathered that when the security agents asked him to explain how he got the money and the type of business he was into, he could not offer any satisfactory explanation which fuel suspicion of his motives.
The money was seized from him and was detained for hidden and attempted to move such huge foreign currency out of the country.
Olukunmi was later arraigned before Isolo Magistrates court for alleged money laundering under the Criminal Code.
The suspect pleaded not guilty.
The presiding Magistrate, Mrs O.A. Adedayo granted him bail in the sum of N1 million with two sureties in like sum.
He was remanded in prison custody pending when he will perfect their bail condition.
