EFCC charges two men over alleged £110,000, ₦500 million fraud in Lagos

The Economic and Financial Crimes Commission (EFCC) Lagos Zonal Directorate 1 on Friday arraigned Ali Bala and Yusuf Umar Anka before Justice Olukayode Ogunjobi of the State High Court sitting in Ikeja, Lagos, for alleged fraud worth £110,000 and ₦500 million.

The defendants were tried on 10 charges bordering on money laundering, theft and possession of stolen property.

One of the charges reads: “That you, ALI BALA (aka Lawyer Ahmed) and YUSUF UMAR ANKA, sometime in the year 2025 in Lagos, within the jurisdiction of this Honorable Court, carried out financial transactions involving the proceeds of your unlawful activities to disguise the source of the stolen £110,000.00 (One Hundred and Ten Thousand Pounds Sterling), and thereby committed an offense contrary to Section 7(1)(b)(i) of the Advance Fees Act Fraud and Other Fraud-Related Offenses Act, 2006.”

The defendants pleaded “not guilty” to the charges.

In connection with their petition, the Public Prosecutor, HU Kofarnaisa, requested a trial date and urged the court to return the defendants to the penitentiary.

His counsel, however, informed the court about the pending bail application.

In his ruling, Justice Ogunjobi adjourned the matter until September 8, 2026, for the hearing of the bail application, and ordered that the defendants be returned to EFCC custody pending trial.