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Nigeria: EFCC uncovers ‘laundered’ N.5billion in Lagos plaza

Nigeria: EFCC uncovers ‘laundered’ N.5billion in Lagos plaza


<p>Nigeria’s Economic and Financial Crimes Commission (<span class="caps">EFCC</span>) says it uncovered yet another large sum of suspected laundered money to the tune of N448,850,000 (Four hundred and forty eight million, eight hundred and fifty thousand naira) in a shop at <span class="caps">LEGICO</span> Shopping Plaza, Ahmadu Bello Way, Victoria Island, Lagos, <a href="http://www.premiumtimesng.com/news/more-news/228269-efcc-uncovers-laundered-n-5billion-lagos-plaza.html" target="_blank">the Premium Times reports.</a></p> <p>It further reports that the money, stashed in several Ghana-Must-Go bags were in N500 and N1000 denominations, hidden in a shop awaiting conversion into foreign currency, was recovered on Friday evening, according to a statement by the spokesperson for the commission, Wilson Uwujaren.</p> <p>Traders interviewed at the premises, according to the <span class="caps">EFCC</span>, claimed they were not aware that such money was housed inside the shop, as the place hardly opens for business.</p> <p>In February, the <span class="caps">EFCC</span> 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 (<span class="caps">NNPC</span>), Andrew Yakubu. But the former <span class="caps">NNPC</span> 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.</p> <p><em><span class="caps">IMAGE</span> <span class="caps">COURTESY</span>: http://www.premiumtimesng.com</em></p>