N250m Cash Recovered In Lagos Market- EFCC

N250m Cash Recovered In Lagos Market- EFCC
  • PublishedApril 11, 2017

Economic and Financial Crimes Commission (EFCC) has recoveved another cash haul in Lagos.

Where N250 million was recovered by the Agency at the popular Balogun market in Lagos.

The cash haul came barely three days after the commission recovered N449 million at an abandoned bureau de change on Victoria Island, Lagos.

EFCC spokesman Wilson Uwujaren, who disclosed yesterday’s incident in a statement, said the discovery followed a tip-off from a whistle-blower.
The intercepted money, according to him, include 547,730 Euros, 21,090 pounds and N5,648,500 about N250 million at the prevailing exchange rate at the parallel market.

“The interception followed information that about N250 million cash was being moved somewhere in the market for conversion into foreign currencies by unnamed persons.

“Operatives responded timely, met the money in a Bureau de Change (BDC) office, but a large chunk of it had been converted into Euro and Pounds sterling.

“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,” Uwujaren said.
He said two suspects were assisting the commission in its investigation.



Source: The Nations

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