John Okafor, 25, has been arrested by men of the Nigerian Drug Law Enforcement Agency for being in possession of N48m.

According to Punch, the suspect was reportedly apprehended with the money on the Abaji-Abuja Expressway on Monday by the anti-narcotic officials who were on a routine patrol.

He was said to be among the passengers of a commercial bus coming from Onitsha, Anambra State, when he was arrested.

Okafor insisted that the money belonged to an unnamed bureau de change firm in Onitsha, adding that he was an employee of the firm.

He said he was heading for the foreign exchange market in the Federal Capital Territory to convert the sum to dollars when he was arrested.

He said, “I work for a bureau de change in Onitsha. I was asked to purchase dollars at the foreign exchange market in Abuja with the money. When we got to Abaji, our vehicle was searched and the money was found. That is all I know.”

The FCT commander of the NDLEA, Mrs. Chinyere Obijuru, confirmed the two arrests in a statement. She said Okafor would be handed over to the Economic and Financial Crimes Commission for further investigation, while Ugbai would be charged to court.

She said:

“Okafor was on board a commercial bus from Onitsha in Anambra State when N48,450,000 was found in a brown carton concealed in a sack. He also had on him 86,500 CFA. He claimed that the money belongs to a bureau de change at Onitsha. He is suspected to be engaging in money laundering and will be transferred to the EFCC for further investigation."