Justice Babatunde Quadri of Federal High Court, Abuja, has ordered the final forfeiture of concealed $300,000 belonging to a Chinese national, Li Yan Pin, to the Federal Government of Nigeria.
Economic and Financial Crimes Commission (EFCC) spokesman, Dele Oyewale, announced the conviction in a statement on Monday.
Quadri, however, saved the convict a jail term on the ground that he had filed for a medical leave over alleged coronavirus symptoms that included persistent headache, insomnia and fatigue.
Earlier, the judge ordered the interim forfeiture of the money following an ex parte application filed by the EFCC.
Yan Pin stood trial for a money laundering charge after intelligence led to his arrest at the Nnamdi Azikiwe International Airport, Abuja.
He had failed to declare the sum in his possession, as he attempted to board a flight to China en-route Dubai.
Justice Quadri noted that the prosecution has proved its case beyond every reasonable doubt and found the defendant guilty of the charges.
Yan Pin was prosecuted according to Section 2, sub-section (5) of the Money Laundering Prohibition Act, 2011, as amended in 2012.