Alleged N6bn Fraud: Mompha Opts For Remanded At Ikoyi Correctional Centre Pending Perfection Of N200m Bail


Court Orders EFCC To Return Mompha’s Passport, Wrist Watches And IPhoneSocial media celebrity, Ismaila Mustapha, alias Mompha, has on Tuesday opted to be remanded at Ikoyi Correctional Center following his inability to meet the strict bail conditions imposed by an Ikeja Special Offences Court, Lagos state.

Mompha and his company, Ismalob Global Investment Ltd were arraigned by Economic and Financial Crimes Commission (EFCC) over alleged N6 billion fraud, on January 12.

Read Also: Just In: EFCC Arraigns Mompha For Fresh Fraud Case (Photos)

The eight-count charges are conspiracy to launder funds obtained through unlawful activity and laundering of funds obtained through unlawful activity.

Others are retention of proceeds of criminal conduct, use of property derived from an unlawful act, possession of a document containing false pretence and failure to disclose assets and properties.

Read Also: Again, EFCC Arrests Socialite, Mompha For ‘Money Laundering’

He was earlier remanded in the custody of the EFCC after the January 12 proceedings and the court had fixed January 18 to hear his bail application.

Justice Mojisola Dada at the resumption of proceedings on Tuesday after hearing the submissions of defence counsel, Mr Gboyega Oyewole (SAN) and EFCC prosecutor, Mr Rotimi Oyedepo (SAN), granted Mompha bail-in “very strong terms.”

He stated;

The applicant is granted bail in the sum of N200 million with two sureties in like sum. One of the sureties must have the property valued at N100million within the jurisdiction of this honourable court.

Both sureties must depose to an affidavit of means to allow the placement of a lien in their respective bank accounts, both sureties must be gainfully employed and resident within the jurisdiction of this court.

Dada added;

The sureties must provide proof of tax payment for the past three years. The applicant shall however be remanded in a Correctional Center of his choice pending the perfection of his bail.

NAN reports that Mompha after consultation with his legal team opted to be remanded at the Ikoyi Correctional Center.

The case was adjourned until March 28, 29 and April 4, 5 and 6 for commencement of trial.

Via NAN.

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