The deceased, who is not known in the area, is believed to have been murdered and dumped into the river by her assassins.
The deceased was wearing only a black blouse without any underwear when the body was found.
Some residents, who trooped to see the body after it was discovered around 6am on Thursday, vowed to help the police to arrest the suspected assassins who might have committed the act.
A resident, who lives close by the lagoon, said he saw some men dragging something into the river last Monday night but thought it was garbage that was being dumped into the river, as the practice was common in the area.
While some claimed the deceased might have been raped by her assailants, others said they believed she was killed for ritual purposes.
The body of the woman, which was in an advanced state of decomposition, had her vaginal area widely opened, with several marks of assault on her.
Meanwhile, the Assembly Member for Gbegbese Electoral Area, Emmanuel B.B Voryor, who was at the scene, told DAILY GUIDE that the body was discovered around 6am by some residents after they smelt a pungent stench emanating from the lagoon.
“When I visited the scene around 6:30am, I saw the woman lying in a supine position and floating on the surface of the river.
“I immediately informed the Dansoman Divisional Police Command to investigate the case. Police personnel from the headquarters were the first to arrive on the crime scene to examine the body.
The Dansoman police later came to convey the body to the Police Hospital morgue,” Voryor said.