It was gathered that the victim, whose name had yet to be ascertained, was found at the Jebba bus stop.
It was gathered that the sack was initially thought to contain rubbish, until a policeman, attached to a commercial bank in the area, checked it and found the corpse.
Our correspondent learnt that the incident, which occurred around 2pm on Thursday, was reported at the Denton Police Division.
It was learnt that officials of the Lagos State Environmental Health Monitoring Unit came to the scene to remove the corpse.
A resident, who gave his name as Saheed Ijadun, said the deceased, whose face was unfamiliar, was tied on the neck with electric cables, while his hands and legs were also tied.
Ijadun added that the policeman had wanted to urinate in the canal, when he noticed the sack and checked the content.
He said, “I believe the deceased did not live around the area. He was killed by hoodlums and dumped around the canal. The policeman was the one who raised the alarm.
“Some said the man was abducted from another area, killed and then dumped by the canal. When the sack was opened, I saw that he wore a pair of jeans and a T-shirt. There were also electric cables tied around his body.”
The Lagos State Police Public Relations Officer, SP Dolapo Badmos, confirmed the incident.
She added that the police had obtained clues on the killers, adding that they would soon be arrested.
She said, “The police are working assiduously to unravel the case. Operatives from the Denton division already have a clue they are working on. We are optimistic that we will arrest the suspects in no distant time.”