by Azeez Adeniyi

A Federal High Court in Lagos has ordered the final forfeiture of N449 million recovered by the Economic and Financial Crimes Commission (EFCC) at a bureau de change at Victoria Island.

The agency had discovered the money after a tip-off from a whistleblower.

According to the EFCC, the fund which was in N500 and N1000 denominations, were in a several ‘Ghana-Must-Go bags’.

“The Economic and Financial Crimes Commission, EFCC, Lagos Office, in the evening of Friday, April 7, 2017 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 statement had read.

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The agency had been unable to trace the owner of the shop where the cash was found.

 

The stash was found weeks after the EFCC had discovered N49 million hidden in five sacks at the Kaduna international airport.