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$2.8m laundered fund: Despite bank revelation, EFCC says ‘investigation ongoing’

Ola Simeon by Ola Simeon
December 22, 2018
in Breaking News, News
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EFCC

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The Economic and Financial Crimes Commission (EFCC) says investigation is ongoing in a bank saga where two suspects were intercepted with $2.8 million cash at Akanu Ibiam International Airport, Enugu.
The money is believed to belong to Union Bank.

EFCC Acting Spokesman, Mr Tony Orilade, made this known in Abuja on Saturday.

The suspects were arrested on Thursday.

“Upon their arrests, they were caught with consignments of two suitcases, containing $1.4 million each, totalling $2.8 million, at the departure lounge of the airport while about to board an Arik Air evening flight to Lagos.

“During interrogation, the suspects confessed that they have been in the business of conveying cash for “some notable banks” for over six years and were in the process of doing same” for another bank when they were caught.

Orilade said the bank refused to honour EFFC’s invitation from the time of the arrest until the commission “had to go out with the story”.

$2.8m laundered fund: Despite bank revelation, EFCC says 'investigation ongoing'
$2.8m laundered fund: Despite bank revelation, EFCC says ‘investigation ongoing’

“That was when they suddenly realised they need to honour the invitation.

“The two men arrested with the money were detatined because they have to offer relevant information.

“Be that as it may,  thorough investigation has to be carried out as to the source and legitimacy of the money because we are not unaware that some financial institutions have yielded to being used to launder money.

“The way forward is that investigation is ongoing.

“Further investigation will reveal the next line of  action,” Orilade said.

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© 2026 Published by SWAAYA LIMITED, Plot 20, Block G, Scheme 1, Residential 3, OPIC Beachland Estate, Lagos/Ibadan Expressway, Lagos. Gabriel Akinadewo, MD/CEO 08023010222, 08094000056, 08052097814.