A 68-year-old woman, known as Alhaja Iyabo, who reportedly lost more than N50 million in cash during the ongoing demolition of shanties in the Alaba Rago market area of Ojo by the Lagos State Government, has passed away.

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.

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

Market leaders, speaking to our correspondents, estimated that the losses incurred by traders could reach N50 billion.

They said bags of rice, beans and livestock were among the items lost during the demolition.

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

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

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

Mallam Namari said the state task force had only given a removal notice to a section of the market without specifying a start date for the demolition.

“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.

“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,” Namari said.

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