Legal/Judiciary

Money laundering: Mompha to remain in EFCC custody till January 18

By Francis IWUCHUKWU

The Special Offences Court sitting in Ikeja, Lagos State, Nigeria on Wednesday ordered the remand in the custody of the Economic and Financial Crimes Commission (EFCC), internet celebrity, Ismaila Mustapha, popularly known as Mompha, till January 18, 2022, when his bail application would be heard.

Justice Mojisola Dada who presided over the court decided after the anti-graft agency arraigned Ismaila Mustapha, popularly known as Mompha, and his firm, Ismalob Global Investment Limited.

They were arraigned on eight (8) counts bordering on alleged money laundering of over N6bn.

According to the EFCC, the offence is contrary to relevant sections of the Advance Fee Fraud Act of 2006 and the EFCC Act of 2004.

In the counts, the defendants were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Olayinka Jimoh popularly known as Nappy Boy, and unlawful transfer of funds for a record label, among others.

The Commission had equally alleged that Mompha concealed his interest in expensive wristwatches and other movable assets valued at over N70m.

But the internet celebrity pleaded not guilty to the charge on behalf of his company, Islamob Limited.

It would be recalled that this is the second case in which the EFCC is charging Mompha. He is standing trial for the first at the Federal High Court, Lagos on an amended 22-count bordering on cyberfraud and money laundering to the tune of N32.9bn.

He was re-arrested by the operatives of the EFCC on January 10, for laundering funds obtained through unlawful activities and retention of alleged proceeds of crime.

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