The Federal High Court in Lagos will on January 15 resume the trial of social media celebrity, Ismaila Mustapha, popularly known as Mompha, over alleged N33 billion fraud. Mompha was arrested on October 19, 2019, at the Nnamdi Azikiwe International Airport, Abuja.
He was arraigned on November 25 on 14 counts bordering on fraud, money laundering and running a foreign exchange business without the authorisation of the Central Bank of Nigeria (CBN). He was arraigned alongside his company, Ismalob Global Investment Limited.
The Economic and Financial Crimes Commission (EFCC) alleges that Mompha procured the company and retained in its bank account an aggregate of N33 billion between 2015 and 2018. Justice Mohammed Liman granted him bail of N100 million on November 29, 2019. After meeting his bail conditions, Mompha was released in December. Justice Liman had earlier adjourned proceedings until January 8, 2020.