EFCC Seizes FX Cash Worth N250m From BDC Operators at Lagos Market

The EFCC has announced the seizure of N250 million from bureau de change operators at the popular Balogun market in Lagos state.

This cash haul is coming three days after the commission recovered N449 million at an abandoned bureau de change on Victoria Island, Lagos.

According to EFCC spokesman Wilson Uwujaren, the EFCC got wind of things following a tip-off from a whistle-blower.

“The interception followed information that about N250 million cash was being moved somewhere in the market for conversion into foreign currencies by unnamed persons," he said.

The intercepted money, according to him, include 547,730 Euros, 21,090 pounds and N5,648,500 about N250 million at the prevailing exchange rate at the parallel market.

“Operatives responded timely, met the money in a Bureau de Change (BDC) 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,” Uwujaren said.

Two suspects are assisting the commission in its investigation, he added.