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

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The Economic and Financial Crimes Commission (EFCC) 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 LEGICO Shopping Plaza, Ahmadu Bello Way, Victoria Island, Lagos.

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, a statement by the spokesperson for the commission, Wilson Uwujaren, said.

Mr. Uwujaren added, “Acting on a tip-off by a concerned whistle blower, operatives of the Commission swooped on the shopping complex and sought the identity of the owners of two shops, LS 64 and LS 67 which were under lock and key.

“The shops had signages of Bureau de Change. Inquiries about the owner of shop 64 indicated that he had not been seen for a long time, as they claimed the shop had not been opened for businesses for close to two years.

“Several calls were put to the owner of shop 67, but there was no response.

“The attention of the plaza’s chairman and some traders were drawn in order to force the shops open. There was no money found in shop 67, but in shop 64 heaps of Ghana-Must-Go bags were found loaded on the floor of the shop. When the bags were unzipped they were found to contain bundles of naira notes totaling N448,850,000.

“Traders interviewed at the premises claimed they were not aware that such money was housed inside the shop, as the place hardly opens for business.

“The Commission is investigating the matter in order to unravel the owner and source of the money.”


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  • okpada

    Wicked demons are all over the country,what a mess

  • Broadway2

    Wickedness!

  • usman alhassan

    Wow! What a craziness in Nigeria!!? Imagine this huge amounts of money can keep in one custody

  • udemeobong

    Is Buhari fighting corruption and no one is sentenced? Which bank inscription is on the notes, Fingerprint etc?

  • udemeobong

    How wicked and heartless?

  • udemeobong

    We need death penalty, otherwise they will not stop.

  • Okokondem

    A simple step as changing the currency as soon as Buhari assumed office in 2015 could have upended the looters and the billions of naira in their possession. But we already know the mantra of fight against corruption is just that. You will not do this in a place like China and get away with it.