Mompha’s N33 Billion Laundering Trial Resumes 15th January, 2020


The Federal High Court in Lagos on Wednesday 8th January fixed 15th January, 2020 to resume the hearing of the alleged Thirty Three Billion Naira (N33bn) money laundering trial of a suspected cyber Fraudster, Ismaila Mustapha alias Mompha.

The new date was fixed at the instance of the defendant’s counsel, Mr. Ademola Adefolaju, who stood in for Mr. Gboyega Oyewole (SAN).

Mompha was arraigned by the Operatives of the Economic and Financial Crimes Commission on 25th November, 2019, following his arrest on 19th October at the Nnamdi Azikiwe International Airport, Abuja.

He and his co-defendant, Ismalob Global Investments Ltd, pleaded not guilty to a 14 count charge bordering on the offence and are out on bail.

In the charge, the Operatives of the Economic and Financial Crimes Commission alleged that Mompha procured Ismalob Global Investment, owned by him, to retain the aggregate sum of N18.05bn between year 2015 and 2019.

He was also alleged to have aided the company to retain N14.9bn between year 2015 and 2017, while not complying with the Central Bank of Nigeria and Federal Ministry of Trades and Investment financial transactions requirement.

The offences, according to the EFCC, contravened Sections 18(c) and 15(2)(d) of the Money Laundering Prohibition Act, 2011 and punishable under Section 15(3) of the same Act.
In another instance, the EFCC accused Mompha and his firm of unlawfully negotiating a foreign exchange transaction with total sum of N630,125,900M for some individuals.


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