Piles of cash keep turning up in Nigeria

Money in NIgeria
Nigerians have been shocked and bemused after huge piles of cash have been unearthed in various parts of the country in recent months. Journalist and writer Adaobi Tricia Nwaubani looks at what is going on. In February, $9.2m and £750,000 were discovered by Nigeria’s anti-corruption agency, the EFCC, in a property belonging to Andrew Yakubu, a former director of the national oil company, NNPC. In March, large sacks containing bundles of “crispy” banknotes worth a total of $155,000 (£130,000) were found in Kaduna airport. In April, a stash containing $43.4m, £27,800 and 23.2m naira were recovered from a Lagos apartment with its owner yet to be identified. And these are just the tip of the iceberg. EFCC head Ibrahim Magu was quoted in the local media as saying that the total amount recovered by the agency in the past few months was about $53m, £120m and €547m, on top of hundreds of millions of Nigerian naira. So what’s going on? To find out, read Nigerian journalist and writer Adaobi Tricia Nwaubani column here. Source: BBC]]>

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