Instagram sensation, Ismaila Mustapha, popularly known as Mompha has been granted bail by the Justice Mojisola Dada-led Ikeja Special Offences Court on Tuesday, January 18th, 2022 of the sum of N200 million.
The Court also requested two sureties, one of which must own a property valued at N100 million within its jurisdiction.
The billionaire (Mompha) had filed for bail through his lawyer, Gboyega Oyewole (SAN).
Recall that Mompha was remanded by Justice Mojisola Dada on Wednesday, January 12th, 2022 after he was arraigned on an eight count charges which borders on aiding internet fraud and being in possession of fraudulent documents.
Mompha and his company, Global Investment Limited, were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Jimoh Olayinka Dolapo a.k.a Nappy Boy – owner of NapTown records – and unlawful transfer of funds for a record label, among others.
The sums named in the charge are N5,998,884.653.18, N32million, N120million and N15,960,000, totalling over N6 billion. The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and other movable assets valued at over N70 million.
Besides, Mompha is also standing trial at the Federal High Court in Lagos alongside Ismalob Global Investment Limited on an amended 22-count charge bordering on cyberfraud and money laundering to the tune of N32.9billion brought against him by the EFCC. He pleaded not guilty to each of the counts.