• Nigeria spy chief reportedly admitted $43 million seized belonged to his company
  • Nigeria’s President orders investigation into how the spy company bought the cash

Nigerian President Muhammadu Buhari suspended Ayodele Oke, director-general of the Nationwide Intelligence Company, over the April 12 raid, Buhari aide Femi Adesina mentioned.

When Nigeria’s anti-corruption company raided an upscale condominium in Lagos, Nigeria’s largest metropolis, brokers discovered greater than $43 million in addition to 23.2 million naira (Nigerian foreign money value about $76,000) and £27,800 (about $35,000).

Nigeria's anti-graft agency found the $43 million stash in an apartment in an upscale part of Lagos.Nigeria's anti-graft agency found the $43 million stash in an apartment in an upscale part of Lagos.

On the time, the Economic and Financial Crimes Commission mentioned the funds have been suspected to be linked to illegal exercise.

However in response to local media reports, Oke ultimately admitted his company was liable for the money, saying it was being saved for covert operations.

An investigation has been launched into how the Nationwide Intelligence Company bought the cash, together with who licensed the funds’ launch to the company, Adesina mentioned. A panel headed by Nigerian Vice President Yemi Osinbajo will perform the probe and report back to Buhari throughout the subsequent two weeks, Adesina mentioned.

Nigeria has struggled with corruption and looted funds for many years. The anti-corruption unit has scored a lot of money seizures this yr after Nigeria’s finance minister introduced a brand new whistleblowing coverage in December.

Raids this month

The anti-graft company mentioned it raided the Lagos condominium after a tip a few “haggard” lady in “soiled garments” taking luggage out and in of the unit.

The April 12 find in the Lagos apartment was among a string of busts by the anti-corruption watchdog.The April 12 find in the Lagos apartment was among a string of busts by the anti-corruption watchdog.

Earlier this month, the company found round 250 million naira in cash ($817,000) in a Lagos market and 448 million naira in cash ($1.5 million) at a procuring plaza.

These seizures have been broadly credited to a brand new coverage during which whistleblowers can anonymously present data via a safe portal. If the data results in the restoration of stolen public funds, the whistleblower is entitled to 2.5% to five% of the overall cash recovered.