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Nigeria's anti-graft body uncovers $43m cash in 'empty' Lagos apartment

Nigeria's anti-graft body uncovers $43m cash in 'empty' Lagos apartment

Nigeria

Nigeria’s Economic and Financial Crimes Commission (EFCC) has reported the seizure of what it described as a ‘humonguos find of foreign currencies.’

The EFCC through its social media handles said over $43m, £27,800 and 23.2m Naira – all in cash, were seized in a Lagos apartment upon a tip from a whistle blower.

‘‘On getting to the building, operatives met the entrance door locked. Inquiries from the guards at the gate explained that nobody resides in the apartment, but some persons come in and out once in a while.

Monies were found in two of the four bedroom apartment. Further probe of the wardrobe by operatives in one of the rooms, was found to be warehousing three fire proof cabinets disguisedly hidden behind wooden panels of the wardrobe.

‘‘Monies were found in two of the four bedroom apartment. Further probe of the wardrobe by operatives in one of the rooms, was found to be warehousing three fire proof cabinets disguisedly hidden behind wooden panels of the wardrobe.

‘‘Upon assessing the content of the cabinets, neatly arranged US Dollars, Pound Sterling and some Naira notes in sealed wrappers,’‘ the EFCC said in a Facebook post.

Operatives of the EFCC had earlier this week intercepted huge sums of money (USD, British Pound and the naira) at the popular Balogun market also in Lagos.

EFCC and a history of money seizures

This is fourth such seizure by the anti-graft body. They also recently announced the seizure of over 5 billion Naira in a Lagos plaza.

Before that, the EFCC disclosed in February this year that a special operation by its operatives at a property belonging to Dr. Andrew Yakubu – a former head of the state oil firm – yielded a sum of $9,772,800 and another sum of £74,000 in cash.

The monies they added was found in a house located in the northern Kaduna State and was kept in a fire proof safe.

Buhari’s whistleblower policy paying off?

The Muhammadu Buhari-led government announced a whistleblower policy to help recover looted state funds. The government said it will pay a percentage of the recovered loot to the whistleblower.

Buhari’s All Progressives Congress (APC) came to power with the promise to restore security (fight Boko Haram), to revive the economy and to fight corruption.

Most former officials are standing trial for corruption, the main opposition Peoples Democratic Party (PDP) have described the prosecutions as a “witch hunt,” the government denies the allegations.

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