Justice Mojisola Dada of the Lagos State Special Offences Court has granted an Internet personality, Ismaila Mustapha, popularly known as Mompha, bail in the sum of N200m.
The Economic and Financial Crimes Commission had on January 12, 2022, arraigned Mompha and his company, Ismalob Global Investment Limited, before the court on eight counts bordering on conspiracy and money laundering.
The EFCC had accused Mompha and his company of conspiracy to launder money obtained through unlawful activity, retention of such money and transfer of money for a suspect, Olayinka Jimoh, popularly known as Nappy Boy and unlawful transfer of money for a record label.
According to the EFCC, Mompha also concealed his interest in expensive wristwatches and other movable assets valued at N70m.
Mompha and his company pleaded not guilty to the charges and Justice Dada ordered his remand till Tuesday for the hearing of his bail application.
At the resumed hearing on Tuesday, Mompha’s counsel, Gboyega Oyewole (SAN), while moving the bail application through an 18-paragraph affidavit, urged the court to grant his client bail on liberal terms.
Opposing the bail application, the prosecuting counsel, Rotimi Oyedepo, through a 19-page counter-affidavit, including three exhibits, urged the court to refuse the bail application and grant an accelerated hearing of the case.
Ruling on the bail application, Justice Dada held, “I am not satisfied that 16 months after, the international passport is yet to be returned to the court.”
She, however, granted Mompha bail in the sum of N200m with two sureties in like sum.
The judge added that one of the sureties must own a property worth N100m within jurisdiction while the two sureties must be gainfully employed and depose to an affidavit of means and must give the approval to have a lien placed on their bank accounts.
She also ordered the defendant to submit his passport to the court as a necessary condition to fulfil the bail terms and added that the defendant be remanded at any correctional centre of his choice pending the fulfilment of his bail conditions.
She thereafter adjourned the matter till March 28 and 29, April 4, 5 and 6, 2022, for trial.