Alleged Money Laundering: Court Adjourns Mompha’s Trial Till March 13

The trial of Ismaila Mustapha, also known as Mompha, on charges related to alleged money laundering has been adjourned until March 13, 2025, by Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos.

Mompha, alongside his company Ismalob Global Investment Limited, was arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) on January 12, 2022, facing an eight-count charge. The charges include conspiracy to launder funds obtained through unlawful activities, retention of criminal proceeds, money laundering, failure to disclose assets and property, possession of false documents, and use of property derived from unlawful acts.

One of the charges states: “Ismaila Mustapha, Ahmadu Mohammed (currently at large), and Ismalob Global Investment Limited, sometime in 2016, conspired to conduct financial transactions amounting to N5,998,884,653.18 (Five Billion Nine Hundred and Ninety-eight Million, Eight Hundred and Eighty-four Thousand, Six Hundred and Fifty-three Naira Eighteen Kobo), intending to promote specified unlawful activities, including obtaining funds by false pretenses.”

The trial will resume in March as the court continues to address the case.