The Economic and Financial Crimes Commission (EFCC) has dragged two men, Ali Bala and Yusuf Umar Anka, before a Lagos State High Court over an alleged fraud involving £110,000 and N500 million.
The suspects were arraigned on Friday, September 4, 2026, by the EFCC Lagos Zonal Directorate 1 before Justice Olukayode Ogunjobi at the Ikeja High Court.
They are facing a 10-count charge bordering on money laundering, stealing and retention of stolen property.
According to the anti-graft agency, the defendants allegedly handled and concealed proceeds of unlawful activities, including £110,000 allegedly obtained through fraud.
One of the charges accused Bala, also known as Barrister Ahmed, and Anka of conducting financial transactions involving the alleged stolen funds in a bid to disguise their source.
The EFCC said the alleged offence was committed in Lagos sometime in 2025 and contravened provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
But when the charges were read to them in court, both defendants entered pleas of not guilty.
Following their pleas, EFCC prosecutor, H.U. Kofarnaisa, asked the court to fix a date for trial and ordered that the defendants be remanded in a correctional facility.
Their lawyers, however, told the court that a bail application was already pending.
Justice Ogunjobi subsequently adjourned the case to September 8, 2026, for hearing of the bail application.
The judge also ordered that Bala and Anka remain in EFCC custody until then.
