The Economic and Financial Crimes Commission (EFCC) has arraigned two men, Ali Bala and Yusuf Umar Anka, before the Lagos State High Court sitting in Ikeja over alleged financial crimes involving £110,000 and N500 million.
The defendants were arraigned on Friday, September 4, 2026, by the Lagos Zonal Directorate 1 of the anti-graft agency before Justice Olukayode Ogunjobi.
They are facing a 10-count charge bordering on money laundering, stealing and retention of stolen property.
According to the EFCC, Bala, also known as Barrister Ahmed, and Anka allegedly carried out financial transactions in Lagos in 2025 involving proceeds of unlawful activities in an attempt to conceal the source of £110,000 allegedly stolen.
One of the counts alleged that the defendants “conducted financial transactions involving proceeds of your unlawful activities to disguise the source of the stolen £110,000.00.”
The charge was brought under Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Both defendants pleaded not guilty to all the charges.
Following their pleas, EFCC counsel, H.U. Kofarnaisa, asked the court to fix a date for trial and ordered that the defendants be remanded in a correctional facility.
Counsel to the defendants, however, told the court that a bail application was pending.
Justice Ogunjobi subsequently adjourned the case until September 8, 2026, for hearing of the bail application.
The judge also ordered that Bala and Anka remain in EFCC custody pending the hearing.
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