EFCC: Court grants Mompha N200m bail

Instagram celebrity, Ismaila Mustapha, popularly known as Mompha, has been granted bail of N200 million after he was arraigned for alleged money laundering to the tune of over N6 billion.

Mompha filed the bail through his lawyer, Gboyega Oyewola (SAN).

He and his company, Ismalob Global Investment Limited, are standing trial on an amended 22-count charge bordering on cyber fraud and money laundering to the tune of N32.9bn brought against him by the EFCC.

NewsWireNGR had earlier reported that the defendants were accused of conspiracy to launder funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect Olayinka Jimoh aka Nappy Boy, and unlawful transfer of funds for a record label, among others.

The court had earlier remanded Mompha in the custody of the EFCC.

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