EFCC Uncovers $44m Stashed In Lagos Penthouse (Photos)

According to the EFCC, a sting operation by its operatives led to the discovery of about $43m, N23m, £27,000 cash hidden in an apartment located at House 16, Osborne Road in Ikoyi, Lagos Island.

“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.

“But we engaged the Central Bank of Nigeria to mobilise counting machines to assist in determining the total haul. Certainly, we are acting on some clues on how the money came about. We have a lot of intelligence we are analysing,” The Nation quoted an EFCC source as saying.

Another EFCC source who spoke in confidence said: “This is a major breakthrough for this commission. We will not relent in recovering slush funds.

“The whistle blowing policy has added value to the anti- graft war. Some of those who looted public funds have been avoiding banks. They kept the cash at home and we are on their trail. Imagine what over N11 billion can do in the life of this nation, while the amount traced to private accounts sums up to N4 billion.

“About N16 billion has been uncovered by the EFCC in the last few days in Lagos, including the N12,360,814,000 recovered and about N4 billion traced to private accounts.”