EFCC uncovers N250m cash haul at Balogun market

A few days after seizing a huge cash from a plaza in Lagos, the Economic and Financial Crimes Commission, on Monday uncovered another N250 million from the popular Balogun Market still in Lagos.

But just like the previous haul last week, the owner of the cash could not be identified.

The discovery of the huge cash according to a statement by the EFCC’s Spokesman, Wilson Uwujaren, followed a tipoff by a whistle blower, whose information forced operatives to swoop on the market.

The cash, which belongs to an unnamed top official from one of the northern states, was to be changed into foreign currencies in the market in Lagos.

The breakdown of the money, which is worth N250 million at the current parallel market rate of N306 to the Dollar, was given by the anti-graft agencies as follows: €547,730, £21,090 and N5,648,500 .

Uwujaren said: “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.