Court Grants Mompha N200 Million Bail


Judge of an Ikeja Special Offences Court, Justice Mojisola Dada has granted a Dubai-based internet celebrity identified as Ismailia Mustapha better known as Mompha bail of N200 million with two sureties in the like sum.

The court granted his application for bail filed through his lawyer, Gboyega Oyewole (SAN).

Justice Dada directed that one of two sureties must own property valued at N100million within the jurisdiction.

The court also ordered his remand in the custody of a Correctional Centre of his choice in Lagos pending the perfection of his bail conditions while his international passport already submitted is to remain in the custody of the court’s registrar.

The Economic and Financial Crimes Commission (EFCC) had arraigned Mompha and his firm, Ismalob Global Investment Limited for alleged money laundering to the tune of over N6billion.

He is facing an eight-count charge bordering on the offences of money laundering.

The counts were conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Olayinka Jimoh a.k.a Nappy Boy, and unlawful transfer of
funds for a record label, among others.

The sums named in the charge seen by The Nation are N5,998,884.653.18, N32million, N120million and N15,960,000, totalling over N6billion.

The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and an iPhone valued at over N70million.

They are a “Rolex Oyster Perpetual Wristwatch, Audemars Piguet Wristwatch, Audemars Piguet-J46220 Wristwatch, XY Hublot-1321920 Wristwatch, XY Hublot-924206 Wristwatch and an iPhone 8 with Serial No. CBPVF1KJC6C, worth over N70million.”

Mompha pleaded “Not guilty” to the eight counts while his company, Islamob Limited (represented by Mompha) also pleaded “not guilty” to the first six counts.


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