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Again, whistle-blower leads EFCC to uncover N250m hidden cash in Lagos

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President Muhammadu Buhari’s whistle-blower policy has continued to prove effective as another N250million has been uncovered in Balogun Market, Lagos, following a tip-off by a whistle blower.

The discovery is coming few days after the EFCC, also based on a tip-off by a whistle blower last Friday evening, uncovered a large sum of cash to the tune of about N448,850,000 in a shop at LEGICO Shopping Plaza, Ahmadu Bello Way, Victoria Island, Lagos.

EFCC, which disclose this in a statement on Monday, said that the owner of the cash, like the one uncovered last Friday could not be identified.

The statement by the EFCC’s spokesman, Wilson Uwujaren, said that the operatives swooped into action following tip-off by a whistle blower, who revealed that the cash belonged to an unnamed top official from one of the northern states and was to be changed into foreign currencies in the market.

The commission gave a breakdown of the equivalent of the money in foreign currency saying that at the current parallel market rate of N306 to the Dollar, the recovered money: €547,730, £21,090 and N5,648,500 is worth about N250 million.

Read also: EFCC discovers N.5bn cash hidden in Shopping plaza

“The intercept 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 Bureau de Change 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.

“Two persons apprehended in the course of the raid are helping the commission in its investigation,” Uwujaren said.

 

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0 Comments

  1. Agbor Chris

    April 11, 2017 at 11:01 am

    The whistle-blower policy is apparently the only policy working in Nigeria. All other policies are failing, some died on execution, but the federal government successfully nailed this

    • Anita Kingsley

      April 11, 2017 at 11:04 am

      The policy is working 100%, but before we start giving the government unnecessary credit, what has it done to those who stole these monies uncovered? the corrupt people stealing public funds, how many of them have been prosecuted? ‘apparently’ none,

  2. Animashaun Ayodeji

    April 11, 2017 at 11:21 am

    This is unbelievable, how can N250million be kept in a public market and no one noticed it until EFCC got to it. I don’t believe this is possible

  3. JOHNSON PETER

    April 11, 2017 at 12:48 pm

    I have always said it that if only the recovery of stolen money is the major achievement of Buhari’s administration, then it worths it. Billions of dollars have recovered which could have been eloped with if not for his loathsome for corruption.

    • yanju omotodun

      April 11, 2017 at 3:01 pm

      That’s not an achievement if the recovered funds are not used for any meaningful development, it would have been better they don’t recover them.

      • Balarabe musa

        April 11, 2017 at 5:12 pm

        You are an enemy of progress. So you prefer your corrupt PDP to continue embezzling your money. Learn to be appreciative .

        • Joy Madu

          April 12, 2017 at 4:35 am

          It is better if PDP embezzle money and things is going well than APC corrupting the country no show for any good work in Nigeria

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