The Journal understands the victim was 24-year-old Royal Bahamas Police Force Reserve Officer Theresa Thompson, the mother of two young children.
She is also the granddaughter of former Free National Movement (FNM) Parliamentarian David Thompson.
Reports are that on Saturday shortly after 9:00pm, police were called to a business establishment on Oakes Street where reports of gunshots were heard.
Officers on arrival at the scene met the lifeless body of a female lying on the ground with a gunshot wound to the body.
Police are actively investigating this matter and are appealing to the general public for anyone with any information that can assist with this investigation.
In other news, police are also searching for the suspects responsible for a shooting incident that occurred on Sunday.
Reports are that shortly after 4:30pm, a man was walking on Nassau Street, when the occupants of a vehicle pulled up and shot him before speeding off.
The man was taken to hospital where he is detained in serious condition.
Investigations continue into both matters.