Men of the underworld on Tuesday morning laid siege on two commercial banks in Festac area of Lagos.
The armed robbers stormed the area at about 7:30am, holding customers and residents hostage for over two hours, The NATION reports.
The robbers reportedly accessed the area through the canal on Fourth Avenue and successfully carried out their operations.
According to residents, the police was nowhere to be found during the over two hours the robbery lasted and only surfaced when the bandits had left.
The newspaper reports that while some of them escaped through the same canal, others drove through the 23 Road, shooting sporadically as they made away with their loot.
When contacted, the state Police Public Relations Officer, Joseph Offor, confirmed the incident, but said he could not give further information because policemen were still on the field.