By Emmanuel Daniji

The Economic and Financial Crimes Commission (EFCC) has arraigned two men before the Lagos State High Court sitting in Ikeja over an alleged £110,000 and N500 million fraud.

The defendants, Ali Bala, also known as Barrister Ahmed, and Yusuf Umar Anka, were arraigned by the EFCC Lagos Zonal Directorate 1 before Justice Olukayode Ogunjobi on Friday, September 4, 2026.

They are facing a 10-count charge bordering on money laundering, stealing and retention of stolen property.

According to the EFCC, one of the counts alleged that the defendants conducted financial transactions involving proceeds of unlawful activities in an attempt to conceal the source of £110,000 allegedly stolen in 2025.

The charge reads in part:

“That you, ALI BALA (a.k.a. Barrister Ahmed) and YUSUF UMAR ANKA, sometime in 2025 in Lagos, within the jurisdiction of this Honourable Court, conducted financial transactions involving proceeds of your unlawful activities to disguise the source of the stolen £110,000.00…”

The commission said the alleged offence contravened Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

Both defendants pleaded not guilty to the charges.

Following their pleas, prosecution counsel, H.U. Kofarnaisa, asked the court to adjourn the matter for trial and ordered that the defendants be remanded in a correctional facility.

Defence counsel, however, informed the court that a bail application had already been filed and was pending before the judge.

In his ruling, Justice Ogunjobi adjourned the matter until September 8, 2026, for hearing of the bail application.

The judge also ordered that Bala and Anka be remanded in EFCC custody pending the hearing of their bail applications.

The case will resume on September 8, when the court is expected to consider the defendants’ request for bail.

The defendants remain presumed innocent until proven guilty by the court.