The Economic and Financial Crimes Commission (EFCC) has arraigned two men before a Lagos Special Offences Court over alleged theft of £110,000 and conversion of N500 million belonging to a businessman, Salihu Muhammed.
The defendants, Ali Bala, also known as Barrister Ahmed, and Yusuf Umar Anka, were arraigned on Wednesday before Justice Olubunmi Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos.
The Lagos Zonal Directorate 1 of the EFCC brought a 10-count charge against the defendants bordering on alleged stealing, money laundering and retention of stolen property.
According to the commission, the defendants allegedly conducted financial transactions involving proceeds of unlawful activities in 2025 in an attempt to conceal the source of the £110,000 allegedly stolen.
In another count, the EFCC alleged that between July and August 2025, the defendants converted N500 million belonging to Muhammed for their personal use.
The commission said the alleged offences contravened provisions of the Criminal Law of Lagos State, 2011.
Bala and Anka pleaded not guilty to all 10 counts when they were read to them.
Following their pleas, the prosecution counsel, Bilikisu Buhari, urged the court to remand the defendants in a correctional facility and set a date for trial.
Counsel to the first and second defendants, M. Abubakar and S. Makinde, told the court that their clients were considering a plea bargain while also pursuing bail applications.
Justice Fadipe subsequently ordered that the defendants be remanded in a correctional facility.
The judge adjourned the case until December 16, 2026, for trial and hearing of the defendants’ bail applications.
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