Categories: NewsNigeria News

Mompha Released On Bail After Spending 10 Weeks In EFCC Custody

Mompha has been released on bail after spending10 weeks in EFCC custody.

Glamtush reports that Ismaila Mustapha popularly known as Mompha and his company, Ismalob Global Investment Limited, appeared before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, on Monday.

This online platform recalls that Mompha, who is finally free on bail, had been in the custody of the Economic and Financial Crimes Commission (EFCC) since January 18.

He was arraigned on January 12 on eight counts bordering on conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct.

Others were laundering of funds obtained through unlawful activity, failure to disclose assets and property, possession of documents containing false pretence and use of property derived from unlawful act.

In one of the counts, EFCC said in 2016, Mompha, Ahmadu Mohammed (at large) and Ismalob Global conspired to conduct financial transactions to the tune of N5,998,884,653 by false pretence.

The defendant pleaded “not guilty” to the charges following which his counsel, Gboyega Oyewole (SAN) applied for bail.

Oyewole prayed the court to grant Mompha bail on “liberal terms”, noting that the defendant was also standing trial on 22 counts before a Federal High Court in Ikoyi where he was also admitted to bail.

But the prosecution counsel, Rotimi Oyedepo, opposed the application.

Justice Dada granted bail to Mompha in the sum of N25million, with two sureties, one of whom must own a property worth N50million.

The case has been adjourned till April 6. The defendant already submitted his passport.

In January, she granted Mompha bail in the sum of N200million, with two sureties in like sum, one of whom must own a property worth N100million.

GLAMTUSH

Recent Posts

Court Dismisses Case Against #EndBadGovernance Protesters

The court has dismissed the case against #EndBadGovernance protesters.   Glamtush reports that a Federal…

12 mins ago

FG Terminates ₦740bn Abuja-Kaduna Road Contract With Julius Berger Over Non-Performance

FG has terminated the ₦740bn Abuja-Kaduna road contract with Julius Berger over non-performance.   Glamtush reports…

32 mins ago

Ekiti Chief Judge, Adeyeye, Dies At 64

Ekiti Chief Judge, Adeyeye, has died at 64.   Glamtush reports that Justice Oyewole Adeyeye,…

1 hour ago

Access Bank Wins Best Digital, Best Website At 2024 Digital Jurist Awards

Access Bank PLC has been named the 2024 Best Digital Award winner in the Commercial…

2 hours ago

Top Summary From Nigerian Newspapers For Tuesday, November 5th, 2024

The top summary from Nigerian newspapers for Tuesday, November 5th, 2024, can be accessed on…

2 hours ago

Ekiti Governor Honours Primate Ayodele’s Late Father, Names Street After Him

The governor of Ekiti state, Biodun Oyebanji has honoured Primate Elijah Ayodele’s late father by…

14 hours ago