The gunmen, who invaded banks in Uromi, headquarters of Esan North-East Local Government Area of Edo State, on Thursday, were spotted moving money in sacks.
At least, seven persons, including two police officers, were killed during the operation.
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Daily Trust had reported how the armed gang broke into Zenith, UBA, First and Union Banks.
In a video of the incident currently trending on social media, the armed robbers were seen loading sacks containing the money stolen from the banks into the boots of their vehicles.
The robbers drove on both sides of the road while loading their loot into the vehicles, including a red colour Toyota Corolla car and a Lexus SUV.
One of them was seen shooting into the air repeatedly as others carried the sacks out of a bank.
The robbery operation, it was gathered, lasted over two hours. A source said the armed men struck at about 3:30pm and left around 6pm.