A Special Offence Court sitting in Lagos has ordered that businessman, Ismailia Mustapha, popularly known as Mompha, be kept in the custody of the Economic and Financial Crimes Commission (EFCC) until the hearing of his bail application.
The presiding judge, Justice Mojisola Dada ordered his remand 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 otherwise known as Nappy Boy and unlawful transfer of funds for a record label, among others.
The anti-graph agency said that the socialite concealed his interest in expensive wristwatches and other movable assets valued at over N70million.
According to EFCC, “The sums named in the charge are N5,998,884.653.18, N32million, N120million and N15,960,000, totalling over N6billion.”
Mompha however pleaded not guilty to the charges against him. The case has been adjourned till January 18, 2022 for hearing and rule on a bail application filed by the defendant’s counsel, Gboyega Oyewole.
