The Economic and Financial Crimes Commission (EFCC) has arraigned two men, Ali Bala and Yusuf Umar Anka, over alleged fraud involving £110,000 and ₦500 million in Lagos.
The defendants were arraigned on Friday, September 4, 2026, before Justice Olukayode Ogunjobi of the Lagos State High Court sitting in Ikeja.
The EFCC confirmed the arraignment of Bala, also known as Barrister Ahmed, and Anka over the alleged multimillion-naira and foreign currency fraud.
They are facing a 10-count charge filed by the Lagos Zonal Directorate 1 of the anti-graft agency, bordering on money laundering, stealing and retention of stolen property.
One of the counts alleged that Bala and Anka, sometime in 2025 in Lagos, conducted financial transactions involving proceeds of unlawful activities in a manner allegedly designed to conceal or disguise the source of £110,000 said to have been stolen.
The prosecution alleged that the transaction contravened Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The provision criminalises financial transactions involving proceeds of unlawful activity where such transactions are designed wholly or partly to conceal or disguise their nature, location, source, ownership or control.
Both defendants pleaded not guilty to the charges.
Following their pleas, prosecution counsel, H.U. Kofarnaisa, asked the court to fix a date for trial and remand the defendants in a correctional facility.
Defence counsel, however, informed the court that an application for bail had already been filed on behalf of the defendants.
Justice Ogunjobi subsequently adjourned the matter until September 8, 2026, for hearing of the bail application.
The court also ordered that Bala and Anka be remanded in EFCC custody pending the determination of their bail application.
The allegations against the defendants remain subject to proof before the court.
READ MORE: Advance Fee Fraud and Other Fraud Related Offences Act
