EFCC charges two men with fraud of £110,000 and N500 million in Lagos

The Economic and Financial Crimes Commission (EFCC) has charged Ali Bala and Yusuf Umar Anka in the Lagos State High Court in Ikeja. They face allegations of fraud involving £110,000 and N500 million.

The defendants appeared before trial judge Olukayode Ogunjobi on 10 counts of money laundering, stealing, and keeping stolen property. EFCC spokesperson Dele Oyewale shared this information in a statement on Friday.

One of the charges claims that the defendants, in 2025 in Lagos, carried out financial transactions with money from illegal activities. This was to hide the source of £110,000 they allegedly stole.

Another count states that Mr Bala, also known as Barrister Ahmed, and Mr Anka, in 2025 in Lagos, “conducted financial transactions involving proceeds of your unlawful activities to disguise the source of the stolen £110,000.00…”

The EFCC pointed out that this alleged crime goes against Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

Both Mr Bala and Mr Anka pleaded not guilty to the charges.

After their pleas, prosecution lawyer H.U. Kofarnaisa requested the court to delay the case for trial. He also asked for the defendants to be kept in a correctional facility.

However, the defence lawyer informed the court that they had already submitted applications for the defendants’ bail.

Mr Ogunjobi set 8 September for the hearing of the bail applications. He ordered that the defendants stay in EFCC custody until that date.