68-Year-Old Trader Dies After Losing N50 Million In Lagos Market Demolition

• A 68-year-old woman, Alhaja Iyabo, died after losing over N50 million in cash in the Lagos Market demolition.

• The state’s task force issued a removal notice on May 15, directing squatters and occupants of illegal structures to vacate immediately.

• Market leaders estimate trader losses could reach N50 billion, including destroyed bags of rice, beans, and livestock.

EKO HOT BLOG reports that a 68-year-old woman, identified as Alhaja Iyabo, has died after losing over N50 million in cash during the ongoing demolition of shanties in the Alaba Rago market area of Ojo by the Lagos State Government.

The state’s task force issued a removal notice to squatters and occupants of illegal structures in Alaba Rago on May 15, directing them to vacate immediately.

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Alhaja Iyabo, a dealer in rice and beans, reportedly developed a heart problem after discovering that her weekend earnings, kept in a safe in her shop, had vanished during the Sunday morning demolition.

Market leaders revealed that the losses incurred by traders could reach N50 billion, including bags of rice, beans, and livestock destroyed during the demolition.

Many traders, including Iyabo, had stored their weekend sales in safes within the market, planning to deposit the money in the bank on Monday before the demolition exercise.

The head of the cow dealers in Alaba Rago market, Ibrahim Hamad Namari, said they received no prior notice of the demolition scheduled for Sunday morning.

However, the Chief Superintendent of Police, CSP Shola Jejeloye, who led the state taskforce, said the removal notice followed an earlier one issued on May 19, 2022.

But Namari countered the statement, saying that the state task force had only given a removal notice to a market section without specifying a start date for the demolition.

He said, “After Saturday’s sale, we kept our money in safes in our shops, intending to take it to the bank on Monday. We woke up on Sunday morning to hear about the demolition.

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“By the time we reached the market, everything was gone. It was the shock of losing her money that led to Alhaja Iyabo’s death.”

The secretary of the yam dealers, Nushubau Ahmad, also estimated the total losses to be as high as N50 billion.

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