Mr Peter Mensah, Very Urgent Please Scam

Is it a scam? 
Email from Mr Peter Mensah  address mrpetermensah49@yahoo.com , Beware of the sender as numerous scam emails has been sent by this particular individual. Emails like these are designed to commit online frauds and steal identity. Do not fall victim of identity theft. Do not sharing any banking details with the sender. Identity theft is common over Internet.  
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About Fraud
Reply-To: mrpetermensah49@yahoo.com
Subject: Very Urgent Please
From: Peter Mensah <mrpetermensah19@gmail.com>
Good day sir/madam,

My name is Mr Peter Mensah I am a retired banker of Standard Chartered
Bank of Ghana Ltd.

I do not want problems but I just hope you can assist me, I write you
this letter in good faith, I have a transaction of three million seven
hundred thousand dollars:($3,700,000.00). I realized this fund from
bank excess profit after trading with the capital sum and I deposited
the funds in escrow call account. Where nobody will have access to it.
Even the bank does not have access to this account because it cannot
be deducted, until after the transfer.

Finally I did not declare this fund to the bank before my retirement.
I am contacting you, to stand as the beneficiary of this fund because
only a foreigner can stand as the beneficiary. Can I trust you to hold
this money for me until I come over to your country? After the
transfer, I will give you 30% of the money as your commission.

If you accept my offer, but if you do not accept this offer kindly
forget that I contacted you, all I need is for you to get a good
current account where this fund can be transferred into and for you to
stand as the beneficiary of the said amount, within three days the
funds will be transferred to your designated bank account.

There are practically no risks involved, it will be a bank-to-bank
transfer. I hope you understand my situation, I am critically ill that
is why I contacted you to finalize this transaction to enable me have
a very good medical treatment.

It will be my pleasure doing business with you,
My regards,
Mr Peter Mensah