EFCC office
The Economic and Financial Crimes Commission (EFCC) on Wednesday re-arraigned two men, Ali Bala and Yusuf Anka, before an Ikeja Special Offences Court over alleged £110,000 and N500 million fraud.
The defendants were re-arraigned before Justice Olubunmi Abike-Fadipe on a 10-count charge bordering on money laundering, stealing and retention of stolen property.
They, however, pleaded not guilty to the charges.
EFCC Counsel, Mrs. Zainab Buhari, told the court that the defendants allegedly conspired and committed the offences in 2025 in Lagos.
Buhari said the defendants conducted financial transactions involving proceeds of unlawful activities in an attempt to disguise the source of £110,000 allegedly stolen.
The anti-graft agency further alleged that the defendants were involved in financial transactions involving N500 million, which it said represented proceeds of unlawful activities.
According to the EFCC, the alleged offences contravene Section 7(1)(b)(i) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Justice Abike-Fadipe thereafter ordered the defendants to remain in EFCC custody pending further proceedings.
The court subsequently adjourned the case until Dec. 16 for further proceedings. (NAN)
