The Economic and Financial Crimes Commission, EFCC, has re-arraigned two men, Ali Bala and Yusuf Umar Anka, before the Lagos State Special Offences Court, Ikeja, over alleged financial crimes involving £110,000 and N500 million.
The defendants were brought before Justice Olubunmi Abike-Fadipe on a 10-count charge bordering on money laundering, stealing and retention of stolen property.
Bala and Anka pleaded not guilty to the charges.
The EFCC alleged in one of the counts that the defendants sometime in 2025 in Lagos conducted financial transactions involving proceeds of unlawful activities in an attempt to disguise the source of £110,000 allegedly stolen.
The charge specifically 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 £110,000.00.”
The anti-graft agency said the alleged offence contravened Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The defendants were also accused of offences connected with transactions involving N500 million.
Following their pleas, Justice Abike-Fadipe ordered that the defendants remain in EFCC custody.
The court subsequently adjourned the matter until December 16, 2026, for further proceedings.
