EFCC Uncovers €547,730, £21,090 And N5,648,500 At Balogun Market In Lagos

The Economic and Financial Crimes Commission, EFCC, today uncovered another N250million at the popular Balogun Market in Lagos.

The discovery is coming barely few days after the anti-graft agency discovered about N500million at a Plaza in Lagos.

Today’s discovery was made following tip-off by a whistle blower who alerted the commission leading to the operatives intercepting huge sums of money in various currencies at the market.

The monies include €547,730 and £21,090 as well as N5,648,500 . The total haul is about N250m at the prevailing exchange rate at the parallel market.

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.