Lagos, July 1, 2024: An investigator with the Economic and Financial Crimes Commission (EFCC) testified in the trial of Ismaila Mustapha, known as Mompha, revealing that N35 billion was allegedly found in two bank accounts linked to the defendant.
Background: Mompha, alongside his company Ismalob Global Investment Limited, was arraigned on January 12, 2022, by the EFCC. The charges include conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct, failure to disclose assets, possession of documents containing false pretences, and use of property derived from an unlawful act.
Charges and Allegations: One of the charges stated, “Ismaila Mustapha, Ahmadu Mohammed (at large) and Ismalob Global Investment Limited, sometime in 2016, in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to conduct financial transactions to the tune of N5,998,884,653.18 with the intent of promoting the carrying on of specified unlawful activities to wit: obtaining by false pretence.”
Mompha pleaded not guilty to all charges.
Trial in Absentia: Justice Mojisola Dada ordered that the trial continue in absentia after Mompha jumped bail on September 22, 2022.
Prosecution Witness Testimony: At the recent proceedings, Idi Musa, the sixth prosecution witness and EFCC investigator, narrated his findings. The EFCC had received intelligence from the FBI in 2019, linking Mompha and his company to cybercrime activities in the USA. Investigations revealed a heavy flow of funds through Mompha’s accounts: N30 billion in one bank account and N5 billion in another.
Arrest and Investigation: Despite efforts to evade arrest by leaving the country, Mompha was apprehended by Nigeria Immigration Services at the airport. Further investigations showed discrepancies in Mompha’s claims of operating a Bureau De Change business without a license. The forensic analysis from the FBI indicated the use of Mompha’s iPhone for suspicious financial transactions.
Evidence Presented: The court admitted Mompha’s statement and Asset Declaration Form as exhibits.
Next Steps: Justice Dada adjourned the case to October 8, 2024, for the continuation of the trial.
This case underscores ongoing efforts to tackle financial crimes and the cooperation between international and local law enforcement agencies in prosecuting such cases.