Court Reduces Mompha’s Bail Sum From N200 Million To N25 Million


Mompha Announces Break From Social Media For Health ReasonsAn Ikeja Special Offences Court has on Monday, March 28, reduced from the bail of social media celebrity, Ismaila Mustapha (alias Mompha) from N200 million to N25 million.

Justice Mojisola Dada made the ruling following a prayer by defence counsel, Mr Gboyega Oyewole (SAN), and submission by the prosecution counsel, Mr Rotimi Oyedepo.

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

Dada, charged with N6 billion money laundering, had on January 18, 2022, granted Mompha bail in the sum of N200 million and 2 sureties.

However, on Monday, she held;

The defendant is admitted to a bail of N25 million with two sureties in like sum. One of the sureties must have a landed property worth N50 million within the court’s jurisdiction. The defendant shall be temporarily released to defence counsel only for two weeks pending the perfection of the bail conditions. Defence counsel should also write an undertaking to that effect.

Earlier, Oyewole tendered an application which was supported by a 13-paragraph affidavit to pray the court to lessen the bail conditions.

Read Also: Court Orders EFCC To Return Mompha’s Passport, Wrist Watches And IPhone

He stated;

My lord, I have an application dated March 8, 2022, seeking the court’s variation of the bail granted to the defendant. The application is supported by a 13-paragraph affidavit which we adopted. We seek the prosecution to see toward the possibility of some kind of restitution but this is being tampered with because of detention. We urge your lordship to consider the variation as proposed.

The counsel said that the defendant had been on bail on a 22-count-charge before the Federal High Court and did not jump bail.

Responding, Oyedepo had told the court that he was aware of the application and would leave it at the discretion of the court.

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

He stated;

My lord, we are aware of the application. We have opposed it and gave conditions to the defendant. WeIl leave it to my lord’s discretion.

NAN reports that the case was initially scheduled for trial.

Mompha and his company, Ismalob Global Investment Ltd., were arraigned on an eight-count charge by the Economic and Financial Crimes Commission on January 12.

The charges include conspiracy to launder funds obtained through unlawful activity and laundering of funds obtained through unlawful activity.

Other charges include retention of proceeds of criminal conduct, use of property derived from unlawful act, possession of document containing false pretence and failure to disclose assets and property.

The court adjourned the case until April 6 for progress report on perfection of bail conditions.

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