By Francis IWUCHUKWU
The Special Offences Court sitting in Ikeja presided over by Justice Mojisola Dada on Tuesday granted an internet celebrity, Ismailia Mustapha popularly known as Mompha, bail in the sum of N200 million with two sureties in the like sum.
Justice Dada granted his bail application deposed to by Ademola Adefolaju through his counsel, Gboyega Oyewole (SAN).
Delivering ruling after entertaining argument from both Oyewole and counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo on the bail application, Justice Dada ordered that one of the two sureties must own properties valued at N100million within the jurisdiction of the court.
The judge thereafter ordered his remand in the custody of a Correctional Centre of his choice in Lagos pending the perfection of his bail conditions while his international passport already submitted is to remain in the custody of the court’s registrar.
It would be recalled that Justice Dada had last Wednesday ordered the remand in the custody of the EFCC, Mompha, till today when his bail application would be heard.
Justice Dada who presided over the court decided after the anti-graft agency arraigned Ismaila Mustapha, popularly known as Mompha, and his firm, Ismalob Global Investment Limited.
They were arraigned on eight (8) counts bordering on alleged money laundering of over N6bn.
According to the EFCC, the offence is contrary to relevant sections of the Advance Fee Fraud Act of 2006 and the EFCC Act of 2004.
In the counts, the defendants were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Olayinka Jimoh popularly known as Nappy Boy, and unlawful transfer of funds for a record label, among others.
The Commission had equally alleged that Mompha concealed his interest in expensive wristwatches and other movable assets valued at over N70m.
But the internet celebrity pleaded not guilty to the charge on behalf of his company, Islamob Limited.
This is the second case in which the EFCC is charging Mompha. He is standing trial for the first at the Federal High Court, Lagos on an amended 22-count bordering on cyberfraud and money laundering to the tune of N32.9bn.
He was re-arrested by the operatives of the EFCC on January 10, for laundering funds obtained through unlawful activities and retention of alleged proceeds of crime.
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