EFCC arraigns two men over alleged £110,000, N500m fraud in Lagos
Two Men Arraigned for Financial Crimes in Lagos
The Economic and Financial Crimes Commission (EFCC) has filed charges against two men, Ali Bala and Yusuf Umar Anka, in the Lagos State High Court at Ikeja. The duo faces allegations related to financial crimes totaling £110,000 and ₦500 million.
The defendants were presented before Justice Olukayode Ogunjobi on 10 counts, which include money laundering, theft, and retention of stolen property. EFCC spokesperson Dele Oyewale confirmed the arraignment in a statement on Friday.
One of the charges accuses Bala and Anka of engaging in financial transactions in Lagos in 2025 involving proceeds allegedly obtained through illegal means. The EFCC alleges that these transactions aimed to conceal the source of £110,000 that was reportedly stolen.
Specifically, one count states that Bala, also known as Barrister Ahmed, and Anka carried out financial dealings in Lagos during 2025 to obscure the origin of the stolen funds.
The alleged offenses are said to violate Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. Both defendants have pleaded not guilty to all charges.
Following their pleas, EFCC counsel H.U. Kofarnaisa requested a postponement to allow for the commencement of the trial and asked the court to remand the defendants in a correctional facility. In response, the defense counsels indicated that bail applications had already been submitted.
Justice Ogunjobi scheduled a hearing for the bail applications on September 8 and ordered that Bala and Anka remain in EFCC custody until that date.
