The Economic and Financial Crimes Commission (EFCC) has secured an order to keep two men in its custody following their arraignment over an alleged £110,000 and ₦500 million fraud in Lagos.
The suspects, Ali Bala and Yusuf Umar Anka, were arraigned on Friday before Justice Olukayode Ogunjobi of the Lagos State High Court sitting in Ikeja.
The Lagos Zonal Directorate 1 of the EFCC brought a 10-count charge against the defendants, bordering on alleged money laundering, stealing and retention of stolen property.
One of the charges accused the defendants of allegedly conducting financial transactions in 2025 involving proceeds of unlawful activities in an attempt to disguise the source of £110,000 allegedly stolen.
The defendants pleaded not guilty to all the charges.
Following their pleas, prosecution counsel, H.U. Kofarnaisa, asked the court to adjourn the matter for trial and ordered that the defendants be remanded in a correctional facility.
Counsel to the defendants, however, told the court that a bail application was pending.
Ruling on the matter, Justice Ogunjobi adjourned proceedings to September 8, 2026, for hearing of the bail application and ordered that Bala and Anka remain in EFCC custody until then.
The allegations against the defendants remain subject to determination by the court.
