On tuesday, Nov 10, Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, discharged socialite Ismaila Mustapha, aka Mompha, and his company Ismalob Global Investment Limited from the EFCC’s ₦6 billion money laundering case.
The Judge struck out all 8 counts and said the EFCC case was an abuse of court process because EFCC was pursuing the same allegations in two different courts at the same time
She also faulted Count 8 specifically, calling it an afterthought contrived just to make this Ikeja case look different from the one already pending at the Federal High Court.
And on the asset concealment charge, she ruled Mompha did NOT intend to hide assets – he filed his asset declaration form on Oct 20, 2019, and disclosed the same items in his extra-judicial statement 2 days later.
EFCC arraigned Mompha on Jan 12, 2022 on 8 counts – conspiracy to launder funds from unlawful activities, retention of proceeds of crime, failure to disclose assets, possession of documents containing false pretence, etc.
EFCC alleged he, his company, and one Ahmadu Mohammed (at large) conspired in 2016 to carry out transactions worth ₦5.998bn to facilitate unlawful activities including obtaining money by false pretence.
Mompha pleaded not guilty, was granted bail on condition he surrender his passport, then stopped appearing in court – he was tried in absentia. His lawyers didn’t call any witnesses.
“VICTORY AT LAST!!… The battle of victimisation, harassment, and intimidation that started in 2019 has finally ended in victory… Now I can have my freedom and peace, as this judgment has vindicated me.” Mompha tweeted after his release.
He thanked his legal team – Gboyega Oyewole SAN, Kolawole Salami, Ademola Adefolaju.
The Federal High Court case is still pending. That’s a separate, bigger case from Nov 2019 – an amended 22-count charge involving alleged cyber fraud and money laundering of about ₦32.9 billion, with claims funds were channelled through his company and used to buy properties in Dubai.
So this ruling ends the Ikeja ₦6bn case only. EFCC can also still appeal this ruling.
