The Economic and Financial Crimes Commission, EFCC, Lagos Zonal office, on Wednesday, March 4, 2020, re-arraigned Ismaila Mustapha (aka Mompha), before Justice Mohammed Liman of a Federal High Court sitting in Ikoyi, Lagos, for alleged N32.9billion fraud.
Mompha was first arraigned alongside his company, Ismalob Ventures on November 25, 2019 on a 14-count charge bordering on fraud, money laundering and running a foreign exchange business without the authorisation of the Central Bank of Nigeria, CBN.
The defendant had pleaded “not guilty” to the charge and was granted bail in the sum of N100million with one surety in like sum.
The prosecution subsequently opened its case and presented witnesses from the CBN and the Special Control Unit against Money Laundering, SCUML.
