Lagos: EFCC re-arraigns two over alleged £110,000, N500m fraud

The Economic and Financial Crimes Commission, EFCC, connected Wednesday re-arraigned 2 men, Ali Bala and Yusuf Anka, earlier an Ikeja Special Offences Court implicit alleged fraud involving £110,000 and N500 million.

The defendants were brought earlier Justice Olubunmi Abike-Fadipe connected a 10-count complaint bordering connected wealth laundering, stealing and retention of stolen property.

Both men pleaded not blameworthy to the charges.

EFCC counsel, Mrs Zainab Buhari, told the tribunal that the defendants allegedly conspired to perpetrate the offences successful Lagos successful 2025.

Buhari alleged that the defendants carried retired fiscal transactions involving proceeds of unlawful activities successful an effort to conceal the root of £110,000 allegedly stolen.

The anti-graft bureau further accused the defendants of engaging successful fiscal transactions involving N500 million, which it said represented proceeds of unlawful activities.

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

Following their pleas, Justice Abike-Fadipe ordered that the defendants stay successful EFCC custody pending further proceedin...