EFCC Discovers Another N250.5m Inside Lagos Market...Shocking Details - EtimaNews | Latest News updates in Nigeria

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A Punch Metro report has revealed that the Economic and Financial Crimes Commission on Monday recovered €547,730 and £21,090 as well as N5,648,500 from a Bureau de Change operator in Balogun Market, Lagos.

The figure, it was learnt, sums up to N250,558,670 when converted to naira, according to the EFCC.


The recovery comes less than four days after the commission recovered over N480m from an abandoned shop in the Nigerian Air Force complex, Legico, Ahmadu Bello Way, Victoria Island.

The EFCC said on its official Facebook page that the recovery followed information that about N250m cash was being moved somewhere in the market for conversion into foreign currency.

It said following a tip-off from a whistle-blower, some operatives of the commission responded timely to the scene, met the money in the BDC office, but a large chunk of it had been converted into euros and pounds.

The statement read in part, “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 converted monies were €547,730 and £21,090 as well as N5,648,500 which was to be converted, but for the intervention of the EFCC operatives. “Two persons were apprehended and they are helping the commission in its investigation.”

According to Punch Metro, sources within the commission revealed that no one had come forward to claim ownership of the N489m seized last week.

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