EFCC Discovers $43 Million, £27,800 In Lagos Building

The Economic and Financial Crimes Commission, EFCC, has said that it discovered huge amounts of money in foreign and local currencies on Wednesday at a building in Ikoyi area of Lagos State.

A statement by the anti-graft agency late on Wednesday said operatives of the commission made the discovery following information by a whistle blower.

The huge amount of money totalling $43.4 million, £27,800 and N23.2 million was uncovered at the 7th Floor of a four – bedroom apartment at Osborne Towers located at 16, Osborne road Ikoyi, Lagos.

“The operation followed a whistle blower’s confidential alert received by the Commission’s Lagos office this morning regarding some noticed suspicious movement of bags in and out of a particular apartment in the building,” the statement read.

“According to the source, the movers of the bags, make believe that they bring in bags of clothes.”

The EFCC quoted a source who is conversant with the building as saying that a woman has been sighted around the premises on different occassion with Ghana Must Go bags.

“She comes looking haggard, with dirty clothes but her skin didn’t quite match her outward appearance, perhaps a disguise”, the source was quoted as saying.

The EFCC statement further read: “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.

“In compliance with the magisterial order contained in the warrant, the EFCC used minimum force to gain entrance into the apartment.

“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.

“Preliminary findings indicate that the funds are suspected to be proceeds of unlawful activity.

“The facility is said to be owned by Osborne Towers Resident Association.

“Investigations are ongoing,” the statement concluded.

The EFCC has announced a number of discoveries in Lagos State in recent days.

The developments have been attributed to the new whistle blower policy of the federal government, which promises to reward anyone who exposes corruption cases with between 2 to 5 percent of the recovered sum.

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