The Economic and Financial Crimes Commission (EFCC) has arraigned two men, Ali Bala and Yusuf Umar Anka, before the Lagos State High Court in Ikeja over an alleged £110,000 and ₦500 million fraud.
The defendants were arraigned on Friday, September 4, 2026, by the EFCC Lagos Zonal Directorate 1 before Justice Olukayode Ogunjobi on a 10-count charge bordering on money laundering, stealing and retention of stolen property.
According to the prosecution, the defendants allegedly conducted financial transactions involving proceeds of unlawful activities with the intention of disguising the source of £110,000 allegedly stolen in 2025.
One of the counts alleged that Bala, also known as Barrister Ahmed, and Anka “conducted financial transactions involving proceeds of your unlawful activities to disguise the source of the stolen £110,000,” contrary to Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The defendants pleaded not guilty to all the charges.
Following their pleas, EFCC counsel, H.U. Kofarnaisa, asked the court to adjourn the matter for trial and ordered that the defendants be remanded in a correctional facility.
Defence counsel, however, informed the court that a bail application had already been filed and was pending before the court.
Justice Ogunjobi subsequently adjourned the case until September 8, 2026, for hearing of the bail application and ordered that the defendants remain in EFCC custody pending the hearing.
