The Economic and Financial Crimes Commission (EFCC) has arraigned two men before a Lagos State High Court over alleged fraud involving $110,000 and N500 million.
The defendants were brought before the court on separate charges bordering on obtaining money by false pretence, fraudulent conversion and other related offences.
The EFCC alleged that the defendants were involved in transactions through which they obtained the funds from their victims under false pretences.
The anti-graft agency told the court that the alleged offences contravened relevant provisions of the law.
The defendants pleaded not guilty to the charges after they were read to them.
Following their pleas, the prosecution urged the court to proceed with the trial and consider the evidence it intends to present against the defendants.
The case was subsequently adjourned for further proceedings.
The EFCC has continued to prosecute cases involving alleged financial crimes as part of its efforts to combat fraud and other economic offences in the country.
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