Mompha Released On Bail After 10 Weeks In EFCC Custody Over N6bn FraudIsmaila

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.Mompha, who is finally free on bail, had been in the custody of the Economic and Financial Crimes Commission (EFCC) since January 18.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.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, 2022. The defendant already submitted his passport.In January, court granted Mompha bail in the sum of N200million, with two sureties in like sum, one of whom must own a property worth N100million.