The Economic and Financial Crimes Commission said it made an error of estimation in ascribing a N20million valuation for the five watches found with suspected Yahoo Yahoo Big Boy, Ismaila Mustapha, a.k.a Mompha.
The commission which did not mention the brands of the watches now said they have been valued at N60million, about $166,000. Last week, the commission valued them at N20million, about $56,000.
The review came in the wake of the arrest of a Mompha accomplice in Lagos, Hamza Koudieh, a Lebanese living big in Victoria Island.
“Actionable intelligence received from local and international law enforcement agencies had revealed that Koudeih and Mompha alongside their collaborators are high valued targets in Organised Cyber Syndicate Network (OCSN)”, EFCC Lagos office head told The Nation newspaper..