A Lagos Special Offences Court in Ikeja has remanded social media celebrity, Ismaila Mustapha, also known as Mompha, in custody of the Economic and Financial Crimes Commission, EFCC, pending the hearing of his bail application in the N6 billion fraud charge filed against him.
The EFCC, on Wednesday, arraigned Mompha and his company, Ismalob, before Justice Mojisola Dada on an eight counts fraud charge.
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 a.k.a Nappy Boy, and unlawful transfer of funds for a record label, among others.
The sums named in the charge are N5,998,884.653.18, N32million, N120million and N15,960,000, totalling over N6billion.
The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and other movable assets valued at over N70 million.
Mompha pleaded ‘Not guilty’ to the eight counts while Islamob Limited (represented also by Mompha) pleaded ‘not guilty’ to the first six counts.
After his plea, prosecuting counsel, Mr. Rotimi Oyedepo requested for a trial date.
The defendant counsel, Gboyega Oyewole(SAN) however informed the court that they had filed a bail application and same had been served on the EFCC.
Responding to the bail application, Mr. Oyedepo asked for time to file a response.
After entertaining submission of counsel’s, Justice Dada adjourned till January 18, to hear and rule on the bail application.