THE Customs Anti-Narcotic Unit (CANU), on Friday, seized approximately five pounds of cocaine worth GY$2.1 million at a property located in Festival City, North Ruimveldt.

A press release from CANU noted that its officers conducted an operation at the property in Festival City where they intercepted 44-year-old Royston Peniston, with two hardcover suitcases in his possession.

It should be noted that Peniston is the owner of the Blue Iguana nightclub.

A subsequent search of the suitcases in the presence of the suspect revealed a quantity of a whitish powdery substance suspected to be cocaine.

Peniston was arrested and escorted to CANU Headquarters where a further search of both suitcases led to the discovery of two parcels suspected to also be cocaine.

The suspected narcotic tested positive for cocaine and weighed approximately five pounds equivalent to 2.178 kilograms (kg).

Investigations are ongoing.