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Nigerian Socialite Mompha Imprisoned For Not Meeting Bail Conditions

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Nigerian Socialite Mompha Imprisoned For Not Meeting Bail Conditions
Nigerian Socialite Mompha Imprisoned For Not Meeting Bail Conditions

Nigerian fashionable business man Ismaila Mustapha, also called Mompha, on Tuesday opted to be remanded on the Ikoyi Correctional Center in Lagos.

That is following his incapability to fulfill the bail conditions imposed by an Ikeja Special Offences Court.

In another news post Naijadiamond Reveal that Mompha and his company, Ismalob Global Investment Ltd., have been arraigned by the Economic and Financial Crimes Commission (EFCC) over alleged N6 billion fraUd on January 12.

The eight count charges are conspiracy to launder funds obtained via unlawful activity and laundering of funds obtained by way of illegal activity. Others are retention of proceeds of criminal conduct, use of property derived from unlawful act, possession of document containing false pretence and failure to disclose assets and properties.

Justice Mojisola Dada, on the resumption of proceedings on Tuesday after listening to the submissions of defence counsel, Gboyega Oyewole and EFCC prosecutor, Rotimi Oyedepo, granted Mompha bail in “very strong terms.”

The applicant is granted bail in the sum of N200 million with two sureties in like sum. One of the sureties will need to have property valued at N100million within the jurisdiction of this honourable court. Each sureties should depose to an affidavit of means to permit the placement of a lien of their respective bank accounts, each sureties have to be gainfully employed and resident within the jurisdiction of this court.The sureties should present proof of tax payment for the previous three years. The applicant shall nonetheless be remanded in a Correctional Center of his choice pending the perfection of his bail,” Justice. Dada stated.

Mompha, after consultation with his legal team opted to be remanded at the Ikoyi Correctional Center. The case was adjourned until March 28, 29 and April 4, 5 and 6 for commencement of trial.

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