EFCC arraigns two men over alleged £110,000, N500m fraud in Lagos

The Economic and Financial Crimes Commission, EFCC, has arraigned 2 men, Ali Bala and Yusuf Umar Anka, earlier the Lagos State High Court sitting successful Ikeja implicit alleged fiscal crimes involving £110,000 and N500 million.

The defendants were brought earlier Justice Olukayode Ogunjobi connected 10 counts bordering connected wealth laundering, stealing and retention of stolen property.

The EFCC spokesperson, Dele Oyewale, disclosed this successful a connection issued on Friday.

According to the commission, 1 of the counts accused Bala and Anka of carrying retired fiscal transactions successful Lagos successful 2025 involving proceeds allegedly obtained done unlawful means.

The EFCC alleged that the transactions were designed to conceal the root of £110,000 said to person been stolen.

Another number specifically alleged that Bala, besides known arsenic Barrister Ahmed, and Anka, sometime successful 2025 successful Lagos, “conducted fiscal transactions involving proceeds of unlawful activities to disguise the root of the stolen £110,000.00.”

The committee said the alleged offence contravened Section 7(1)(b)(i) ...