EFCC intercepts N250m cash in Lagos

EFCC intercepts N250m cash in Lagos

Monday, April 10, 2017 9:35 pm


The intercepted local and foreign currencies

A tip from a whistleblower on Monday led operatives of the Economic and Financial Crimes Commission, EFCC, to intercept huge sums of money in various currencies at the popular Balogun market in Lagos.

The monies include €547,730 and £21,090 as well as N5,648,500 .

The total haul is about N250m at the prevailing exchange rate at the parallel market, Wilson Uwujaren, spokesperson for the EFCC said in a statement.

He added that the intercept followed information that about N250 million cash was being moved somewhere in the market for conversion into foreign currencies by unnamed persons.

Though EFCC Operatives responded timely and met the money in Bureau de Change office, but a large chunk of it had been converted into Euro and Pounds sterling, added Uwujaren.

The anti graft agency added that the BDC operators  found in possession of the monies claimed they were acting on behalf of their boss who sent the money  to them from one of the Northern states in Nigeria.

The Commission added that two persons apprehended in the course of the raid are helping it in its investigation.

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