By Emmanuel Thomas l Monday, Oct 12, 2026
LAGOS — 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 sitting in Ikeja over alleged financial crimes amounting to £110,000 and N500 million.
The defendants were brought before Justice Olubunmi Abike-Fadipe on an amended 10-count charge bordering on money laundering, stealing, and retention of stolen property.
Upon reading the charges, both Bala (also known as Barrister Ahmed) and Anka pleaded not guilty to all counts.
According to the prosecution, one of the charges alleges that the defendants, sometime in 2025 in Lagos, conducted financial transactions involving proceeds of unlawful activities in an effort to disguise the illegal origin of £110,000.
The anti-graft agency stated that the alleged offence violates Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Additionally, the EFCC alleged that the duo engaged in financial transactions involving N500 million, which the commission identified as proceeds of unlawful activity.
Following their “not guilty” pleas, Justice Abike-Fadipe ordered that the defendants remain in EFCC custody pending further court proceedings.
The trial judge subsequently adjourned the case until December 16, 2026, for continuation of trial.
