The Nigeria Customs Service says $8m (£6m), wrapped in large brown envelopes, were found hidden inside a car at the Murtala Muhammed International Airport in the commercial capital Lagos.
The cash was allegedly being smuggled out of the country by a “money laundering syndicate assisting corrupt government officials,” customs boss Hameed Ali said.
Two drivers working for a company at the airport, who are alleged to have been caught moving the cash into the airport, have been arrested.
Hameed Ali, the customs controller-general, said at a press conference in Lagos Tuesday that the cash was intercepted in a car while it was about to be loaded into an aircraft.
He did not provide details of the aircraft but added that the money was stashed inside a vehicle belonging to the Nigerian Aviation Handling Company (NAHCO).
“From the day we seized this money, no bank has come to claim ownership. But our investigation will reveal the mystery behind the owners,” he said.