The naval service is currently escorting a yacht into Cork harbour on which cocaine worth up to €100m may have been found.

The vessel, named 'Makayabella', began its journey in the Caribbean and had been under surveillance for some time.

It was stopped and searched off the Cork coast earlier today.

Its understood up to 40 bails of white power - thought to be cocaine - were found onboard.

Three men who are all holding British passports were arrested.

After Naval Service personnel secured the vessel, members of the gardaí and Revenue's Customs Service boarded the yacht and conducted a search.

The yacht is now being escorted to Haulbowline by the naval ships the LE Niamh and LE Roisin.

The drugs will then be inspected and forensically examined to establish their value.

The operation was a joint task force between members of the Revenue Customs Service, the Naval Service and An Garda Síochána.