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Mompha Granted N100m Bail

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A Federal High Court sitting in Lagos has on Friday granted money launderer, Ismaila Mustapha, also known as Mompha  N100m bail.

Justice Mohammed Liman had on Monday, ordered that he be remanded in the prison custody after he had been arraigned before him on 14 counts bordering on cyber fraud and money laundering.

The Economic and Financial Crimes Commission, which is prosecuting Mompha, alleges that he procured one Ismalob Global Investment Limited and retained in its bank account an aggregate of N32.9bn between 2015 and 2018.

The EFCC says Mompha “ought to have reasonably known that the money formed part of proceeds of unlawful act, to wit: fraud.”

Mompha, an Internet celebrity was also accused of negotiating foreign exchange transactions of various sums with various persons when he was not an authorised seller appointed by the CBN.

But he pleaded not guilty when the charges were read to him.

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