EFCC finds $43m, N23m, £27,000 cash in Lagos home
ACTING on a tip-off, the Economic and Financial Crimes Commission (EFCC) yesterday found $43.4 million (about N13.237 billion), N23 million and £27,000 cash at House 16, Osborne Road in Ikoyi, Lagos Island.
The anti-graft agency suspected that the cash might have been proceeds of crime kept at the residence to prevent any bank alert.
But the identity of the owner of the cash was kept under wraps pending the conclusion of investigations.
It was, however, suspected that the cash might have been laundered by politically-exposed persons and former political office holders through fronts.
A reliable source, who spoke in confidence, said: “We acted on intelligence report that huge cash in an apartment in Osborne Towers, Ikoyi, Lagos.
“A whistle blower who had insider knowledge of how the funds were kept in some locked up rooms in the house alerted the EFCC.
“As at the last count, we have recovered about $43.4 million (N13.237 billion at N305 per dollar) N23 million and £27,000. The figures could be higher than what we have counted.