EFCC Arraigns Two Over Alleged £110,000, N500m Fraud In Lagos

The Economic and Financial Crimes Commission has arraigned Ali Bala and Yusuf Umar Anka before the Lagos State High Court in Ikeja over alleged fraud involving £110,000 and N500 million.

The two men appeared before Justice Olukayode Ogunjobi on 10 counts bordering on money laundering, stealing and retention of stolen property. Both defendants pleaded not guilty.

The case was announced in a statement by EFCC spokesperson Dele Oyewale. The commission alleged that the defendants carried out financial transactions in Lagos in 2025 involving proceeds of unlawful activity.

One of the counts alleged that the transactions were meant to disguise the source of £110,000 said to have been stolen. Daily Post reported that the count cited Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

Premium Times and Daily Post both identified the same defendants, the same court and the same alleged sums. The reports did not state that the allegations had been proven, and the defendants’ not-guilty pleas mean the case will continue in court.

Sources: Premium Times, Daily Post