The robbers stormed the Sabo Ajegunle area around noon and announced their arrival with sporadic gunshots fired into the air. The shots apparently served as warning to bystanders to steer clear as the robbers mean serious business. Like scenes from crime movies, the robbers fired into the air consistently for more than fifteen minutes before facing their destinations namely GT Bank, Intercontinental, Skye Bank and Diamond Bank. By that time, everyone around was convinced that the robbers had enough ammunition to engage the police in a long shootout.
The robbers made away with millions of Naira in the course of the operation. A member of staff of one of the banks was one of those killed by the robbers, another victim was a student of Olabisi Onabanjo University who was caught by a hail of bullets as the robbers were making their escape.
The Sagamu robbery came barely two weeks after a raid on banks on the Olabisi Onabanjo University Campus in Ago Iwoye in which a number of lives were also lost.