Court Grants Mompha N200m Bail
Justice Mojisola Dada of the Lagos State Special Offences Court has granted Internet personality, Ismaila Mustapha, otherwise known as Mompha, bail in the sum of N200m.
The Economic and Financial Crimes Commission had on January 12, 2022, arraigned Mompha and his company, Ismalob Global Investment Limited, before the court on eight counts which centers on conspiracy and money laundering.
The EFCC had accused Mompha and his company of conspiracy to launder money gotten through unlawful activity, retention of such money and transfer of money for a suspect, Olayinka Jimoh, popularly known as Nappy Boy and unlawful transfer of money for a record label.
According to the EFCC, Mompha also hid his interest in expensive wristwatches and other movable assets valued at N70m.
Mompha and his company pleaded not guilty to the charges and Justice Dada ordered his remand till Tuesday for the hearing of his bail application.
At the resumed hearing on Tuesday, Mompha’s counsel, Gboyega Oyewole (SAN), while moving the bail application through an 18-paragraph affidavit, told the court to grant his client bail on liberal terms.
Opposing the bail application, the prosecuting counsel, Rotimi Oyedepo, through a 19-page counter-affidavit, including three exhibits, urged the court to refuse the bail application and grant an accelerated hearing of the case.
Justice Dada said, “I am not satisfied that 16 months after, the international passport is yet to be returned to the court.”
She, however, granted Mompha bail in the sum of N200m with two sureties in like sum.
The judge further said that one of the sureties must own a property worth N100m within jurisdiction while the two sureties must be gainfully employed and depose to an affidavit of means and must give the approval to have a lien put on their bank accounts.
She further ordered the defendant to submit his passport to the court as a necessary condition to fulfil the bail terms and added that the defendant be remanded at any correctional centre of his choice pending the fulfilment of his bail conditions.
She thereafter adjourned the matter till March 28 and 29, April 4, 5 and 6, 2022, for trial.
