Eyewitnesses say the bullion van which was run into by the VIP bus which was heading towards Achimota somersaulted three times exposing the money to the sea of pedestrians.
The accident occurred at the traffic light directly in-front of the Vodafone Headquarters with the bullion van heading away from the Odo Rice restaurant.
The bullion van, with registration number GW 1847 S, was said to have been conveying money belonging to Agricultural Development Bank (ADB) to the Bank of Ghana when the incident occured.
There was a free-for-all scramble for the cash which had scattered in the middle of the road with some of the money seen flying away as aggressive commercial motorbike riders and other onlookers rushed to the bullion van to make away with bundles of cash. It took the persistence of policemen who were accompanying the van to ward off further onslaught.
It is however not clear how much money has been lost in the process.
For now, it looks like those who were lucky to make away with the money might get away with it.
On board the van were a policeman, Corporal Francis Amegbor of the Central Police Station, a cashier and the driver.
The police officer was treated and discharged at the Police Hospital.
The victims had to smash the front windscreen of the van to come out as they were stuck behind the locked doors.
The policeman, in desperation, had to fire warning shots to scare the mob away but that was not enough as the recalcitrant ones bent on looting the van remained until the arrival of a reinforcement team at the scene.
Even though the police officer escaped unhurt, he complained of bodily pains but the driver and the cashier had some bruises.
They were rushed to the Ridge Hospital for treatment.