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EFCC discovers N448m cash in Lagos shop


The EFCC said N448, 850 was recovered inside abandoned shop in Lagos

The Economic and Financial Crime Commission (EFCC) Friday said it has discovered a sum of N448, 850 suspected to be laundered money inside an abandoned bureau de change on the premises of LEGICO Shopping Plaza, Ahmadu Bello Way, Victoria Island, Lagos.

The Commission said it operatives visited the shopping plaza after it received a tip-off by a whistleblower.

“The money stashed in several Ghana-Must-Go bags were in N500 and N1000 denominations, hidden in a shop awaiting conversion into foreign currency,” the Commission said in a statement.

“The attention of the plaza’s chairman and some traders were drawn in order to force the shops open. There was no money found in shop 67, but in shop 64 heaps of Ghana-Must-Go bags were found loaded on the floor of the shop. When the bags were unzipped they were found to contain bundles of naira notes totalling N448,850,000.”

Traders interviewed at the premises, according to the EFCC, claimed they were not aware that such money was housed inside the shop, as the place hardly opens for business.

In February, the EFCC recovered $9.8 million and £74, 000, all in cash, from the residence of the former group managing director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu. But the former NNPC boss claimed the money was given to him as a gift by unnamed persons and has gone to court to challenge its seizure by the commission.

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Andrew YakubuEFCC
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  • abodes_124

    Next week they will discover about the same amount in Enugu. This EFCC is working really hard. One assumes they will request forfeiture to the government in which case the owner will turn up ask for his money back and get it. . Omn the other hand like the Kaduna airport seizure we will not hear about any forfeiture request which means its the same money the EFCC is taking round on a tour of Nigeria.

  • Gbemi Tijani

    is grammar the most vital here or the morality of money laundering?

  • Gbemi Tijani

    there s also tote bag it depends on the structure or material from which they are made.The press is almost exact as that s what s commonly used to convey usually illicit cash other than innocent Nigerians using them to convey whatever.However Nigerian & Gbananians understand the word.Forgive me if you re language teacher-you should not be unruffled with the use of the word.

  • Gbemi Tijani

    we need healing about the rat race ,materialism & prosperity followership & leadership values & literacy about work & meaning of life & the earth as a market place

  • Jamilu Ahmad Hussain

    may be they need to employ you as editor. 😉

  • ade

    If this is true, the “whistleblower law” may be what will save us from this crippling corruption. Corruption has become an epidemic in Nigeria and we are all sufferring from its effects. If well managed, no developed country should be able to stand next to our dear country, Nigeria! But, unfortuately, there is a lot of stealing by a group of shameless people. Nigeria is such a wealthy country that we do not need to have bad roads, no pipe bourne water, bad power supply and a dirty environment. We are not doing well as a nation. I wonder whether the nation is meant to be together as one, as we all have different values that is not serving us well as a nation. We are not succeeding as a nation, we need real CHANGE!