Court Grants Mompha N100m Bail

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A Federal High Court sitting in Lagos has granted N100 million bail to embattled Nigerian big man, Ismaila Mustapha, otherwise known as Mompha.

Justice Mohammed Liman granted him bail on Friday after Mompha’s arraignment by the Economic and Financial Crimes Commission (EFCC).

Mompha, who was arrested on October 19 at Nnamdi Azikiwe International Airport, Abuja was arraigned on Monday on 14 counts bordering on fraud, money laundering and running a foreign exchange business without the authorisation of the Central Bank of Nigeria (CBN).

The EFCC alleges that Mompha procured Ismalob Global Investment Limited and retained in its bank account an aggregate of N32.9 billion between 2015 and 2018.

Mompha pleaded not guilty to the charges.

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