Ismaila Mustapha, a popularly referred to as Mompha, and another defendant in the ongoing fraud trial have been accused of prima facie charges by Justice Mojisola Dada of the Lagos State Special Offences Court sitting in Ikeja.
The defendants’ no-case submission was rejected, according to a post on the Economic and Financial Crimes Commission’s (EFCC) official X account on Tuesday, stating that there is sufficient evidence to warrant their submission.
Mompha and his business, Ismalob Global Investment Limited, are facing charges of money laundering and allegedly running an unlicensed bureau de change, according to the EFCC.
In order to continue the hearing, the court then adjourned the case to January 27 and February 28, 2026.
Mompha’s case has seen a number of legal developments over the years. Prior to his initial accusations of laundering about $32.9 billion, the EFCC filed an eight-count charge involving about $36 billion.
Also read: Mompha, a alleged Internet fraudster, files a lawsuit against EFCC, seeks N5m in compensation
The offenses include failing to report assets, keeping criminal proceeds, and conspiracy to launder money obtained through unlawful activity.
The court granted him bail in the amount of $ 200 million and two similar guarantees in January 2022. His bail was later voided in June 2022 after he failed to appear in court, leading to the issuance of a bench warrant for his arrest.
In August of this year, the EFCC accused him of keeping the proceeds from criminal activity and making false asset declarations.
The EFCC made the announcement in May 2023 that Mompha had been re-arrested in connection with alleged $6 billion laundering in collaboration with international partners.
Court records revealed that his account reportedly had received more than $30 billion, which was thought to be crime proceeds, by July 2024.
The court accepted a report from the US Federal Bureau of Investigation (FBI) into the court’s earlier hearings, alleging that Mompha’s iPhone was used to attempt to transfer account details abroad and attempt money transfers.
Mompha has consistently refuted all allegations, accusing the EFCC of misusing his case to promote its reputation. He insists that the charges brought against him are untrue and maintains innocence.
Source: Channels TV
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