Two Re-Arraigned in Lagos Over Alleged £110,000 and ₦500m Financial Crimes

The Economic and Financial Crimes Commission (EFCC) has re-arraigned two men before the Lagos State Special Offences Court in Ikeja over alleged financial crimes involving £110,000 and ₦500 million.

The defendants, identified as Ali Bala, also known as Barrister Ahmed, and Yusuf Umar Anka, were brought before Justice Olubunmi Abike-Fadipe on a 10-count charge bordering on alleged money laundering, stealing and retention of proceeds of unlawful activities.

According to the prosecution, the charges relate to transactions involving £110,000 allegedly stolen in 2025 and ₦500 million allegedly representing proceeds of unlawful activities.

The defendants pleaded not guilty to all the charges.

Following their pleas, the court ordered that they remain in the custody of the EFCC pending further proceedings.

The case was subsequently adjourned until December 16, 2026.

The allegations have not been established in court. The defendants are presumed innocent unless and until proven guilty according to law.