Mompha’s N33b Money Laundering Trial Resume January 15

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Weeks after regaining his freedom from the detention of the Economic Financial Crimes Commission (EFCC) popular bureau de change operator Ismaila Mustapha aka Mompha, is set to return to court for the trial of his money laundering case.

The Federal High Court in Lagos on Wednesday fixed January 15, 2020 to resume the alleged N33bn money laundering trial

The new date was fixed at the instance of the defendant’s counsel, Mr Ademola Adefolaju, who stood in for Mr Gboyega Oyewole (SAN).

Mompha was arraigned by the Economic and Financial Crimes Commission on November 25, 2019, following his arrest on October 19 at the Nnamdi Azikiwe International Airport, Abuja.

He and his co-defendant, Ismalob Global Investments Ltd, pleaded not guilty to a 14-count-charge bordering on the offence and are out on bail.

In the charge, the EFCC alleged that Mompha procured Ismalob Global Investment, owned by him, to retain the aggregate sum of N18.05bn between 2015 and 2019.

He was also alleged to have aided company to retain N14.9bn between 2015 and 2017, while not complying with the Central Bank of Nigeria and Federal Ministry of Trades and Investment financial transactions requirement.

In another instance, the EFCC accused Mompha and his firm of unlawfully negotiating a foreign exchange transaction with total sum of N630, 125, 900m for some individuals.

The offences, according to the commission, contravened Sections 18(c) and 15(2)(d) of the Money Laundering Prohibition Act, 2011 and punishable under Section 15 (3) of the same Act.


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