Nigeria: More Than $40 Million Cash Discovered in Lagos Apartment

Nigerian Anti-graft Agency on A Mission To Recover ‘Stolen’ Funds

The Nigerian anti-graft agency raided an expensive apartment in the country’s largest city of Lagos, leading to the recovery of a big stash of money.

The anti-graft unit seized more than $43 million in US dollars in two bedrooms of the apartment. Most of the money was hidden inside the apartment’s cabinets and some was found behind wooden panels of a bedroom wardrobe.

Aside from that, the raid led to the recovery of 23.2 million naira (Nigerian currency worth $75,000) and £27,800 (UK currency, worth $35,000 US).

The raid was launched immediately after receiving reports of a “haggard woman” taking bags in and out of the apartment.

Investigation is underway of possible individuals linked to the seizure of the stolen government funds. However, the Nigerian authorities believed the funds came from “unlawful activity.”

Graft and corruption is a persistent problem in the West African country. In fact, prominent officials are facing charges of corruption, but none of them were convicted since President Muhammadu Buhari took office in May 2015.

Millions of dollars in cash found inside a Nigerian apartment.
Millions of dollars in cash found inside a Nigerian apartment.

Nigeria’s Whistleblowing Policies

The latest Nigerian whistle blowing policies have led to the recovery of $180 billion since it was launched on December 2016. The policies were initiated with the goal to counter the prevailing massive graft and corruption in the African nation where funds were looted for decades.

The recent discovery of millions of dollars in cash in the apartment in Lagos was not the first successful recovery of stolen government funds since the whistle blowing policies took effect. In fact, earlier in the week, the anti-graft agency discovered around 250 million naira in cash ($817,000) in a Lagos market and a further 448 million naira in cash ($1.5 million) at a shopping plaza.

How does it work?

The policies entail a reward of 2.5%-5% to whistle blowers who disclose information on the recovery of stolen public funds. The information can be provided by the whistle blowers through a secure portal.

Mina Fabulous
Mina Fabulous follows the news, especially what is going on in the US State Department. Mina turns State Department waffle into plain English. Mina Fabulous is the pen name of Carmen Avalino, the NewsBlaze production editor. When she isn't preparing stories for NewsBlaze writers, she writes stories, but to separate her editing and writing identities, she uses the name given by her family and friends.