The Economic and Financial Crimes Commission (EFCC) on Wednesday raided a house in Ikoyi, Lagos and discovered about $43m, N23m and £27,000 in cash stored in the building.
The total cash when converted using the current rate of the Central Bank of Nigeria amounts to N11,661,314,000.
It was learnt that the recovery was made at a service apartment located at Osborne Towers, Punchng.com reported.
The identity of the owner of the funds had yet to be ascertained as of press time but the recovery was made due to information from a whistle-blower.
In line with the whistleblower policy of the Federal Government, the whistleblower is expected to receive nothing less than N500m as a reward.
A source at the EFCC said, “We received a tip-off from a whistleblower regarding the existence of a huge sum of cash in an apartment in Osborne Towers, Ikoyi. We were overwhelmed to see such a huge sum of money.
“We had to quickly notify officials of the Central Bank of Nigeria to come with counting machines. We have been counting the money all day and everything will be transferred to the CBN this night because we don’t have a vault that can store such a huge sum of money.
“I can tell you that the whistleblower policy is one of the best things the Federal Government has ever done to help the fight against corruption.”
