The Economic and Financial Crimes Commission (EFCC), has discovered a huge sum of N4 billion warehoused in Guarantee Trust Bank (GTB).

The fund is suspected to be proceeds of crime or fraudulent practice and it was traced following a tipoff by a whistle blower.

Also on Monday, a tipoff from a whistle blower led the operatives of the EFCC, to intercept huge sums of money in various currencies at the popular Balogun market in Lagos.

The monies include €547,730 and £21,090 as well as N5,648,500, totalling about N250m at the prevailing exchange rate at the parallel market.

According to EFCC Head of Media, Wilson Uwujaren, investigations as to the owner of the N4 billion revealed that the money belongs to a former deputy governorship candidate in Niger State.

He said the suspect uses the names of two companies– Katah Property & Investment Limited and Sadiq Air Travel Agency- in laundering the funds.

Each of the company has N2 billion fixed in its deposit account domiciled in Guaranty Trust Bank.

The suspected owner of the account and the account officer are currently on the run.