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Tuesday, February 18, 2025

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

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Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos has adjourned till March 13, 2025 further hearing in the trial of Ismaila Mustapha for an offence bordering on alleged money laundering.

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The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, had on January 12, 2022 arraigned Mompha alongside his company, Ismalob Global Investment Limited, on an eight-count charge bordering on conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct, laundering of funds obtained through unlawful activity, failure to disclose assets and property, possession of documents containing false pretences and use of property derived from an unlawful act.

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One of the counts reads: “Ismaila Mustapha, Ahmadu Mohammed (at large) and Ismalob Global Investment Limited, sometime in 2016, in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to conduct financial transactions to the tune of 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), with the intent of promoting the carrying on of specified unlawful activities to wit: obtaining by false pretence.”

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