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Court reduces social media celebrity, Mompha’s bail sum to N25m

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Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, on Monday reduced the bail sum granted to the social media celebrity, Ismaila Mustapha aka Mompha, from N200 million to N25 million.

The judge gave the ruling following a prayer by defence counsel, Mr. Gboyega Oyewole (SAN), at the resumed hearing of the case.

Dada had on January 18 granted Mompha, who is standing trial for alleged money laundering, bail in the sum of N200 million and two sureties in like sum.

The Economic and Financial Crimes Commission (EFCC) arraigned the social media celebrity and his company, Ismalob Global Investment Limited, on an eight-count charge of money laundering on January 12.

The charges include conspiracy to launder funds obtained through unlawful activity and laundering of funds obtained through unlawful activity.

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Others are retention of proceeds of criminal conduct, use of property derived from an unlawful act, possession of documents containing false pretence and failure to disclose assets and property.

However, on Monday, the judge said: “The defendant is admitted to bail of N25 million with two sureties in like sum.

“One of the sureties must have a landed property worth N50 million within the court’s jurisdiction.

“The defendant shall be temporarily released to defence counsel only for two weeks pending perfection of the bail conditions.

“Defence counsel should also write an undertaking to that effect.”

She adjourned the case till April 6 for a progress report on the matter.

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