Nigerian politician arrested with $500,000 on election eve

BBC reported that a Nigerian politician has been arrested for alleged money laundering after being caught with $498,100 (£414,000) in cash a day before general elections.

The piles of US dollars were found by police inside Chinyere Igwe’s car. Igwe, an opposition PDP member of the House of Representatives, was also caught with a list of people to give the money to, police say.

In previous elections, politicians have been accused of rigging polls through vote buying.

Nigeria has recently issued new banknotes, partly in order to make it harder for politicians to amass large sums of money in order to bribe voters. However, not enough of the new notes are in circulation, leading to widespread anger and frustration. People have been queuing for hours outside banks in order to get cash, often without success, while some have attacked banks.

Some 40% of Nigerians do not have bank accounts and so rely on cash to buy food, and for other everyday uses.