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Alleged N33bn Money Laundering: Internet Celebrity, Ismaila Mustapha (Mompha) To Be Arraigned Monday

ISMAILA MUSTAPHA (MOMPHA) 

BY FRANCIS IWUCHUKWU  

IKOYI, LAGOS STATE, NIGERIA - Except for any last minute change, Internet Celebrity, Ismaila Mustapha (Mompha) will be arraigned before a Federal High Court sitting in Ikoyi, Lagos State, Nigeria. 

Ismaila Mustapha (Mompha) will be arraigned by the Economic and Financial Crimes Commission (EFCC) over his alleged involvement in money laundering to the tune of N33bn, as slammed against him by the anti-graft agency. 

Specifically, Ismaila Mustapha (Mompha) will be arraigned before the court, presided over by Justice Mohammad Liman on a 14 counts charge that had to do with the alleged offense. 

It would be recalled that the anti-graft agency had instituted the action on November 20, 2019 through its counsel, Rotimi Oyedepo. 

In the charge signed by Rotimi Oyedepo, the EFCC alleged that Ismaila Mustapha (Mompha) laundered the funds through a firm, Ismalob Global Investment Ltd, between 2015 and 2018, which is the second defendant in the charge.

The Commission particularly claimed that  the funds, domiciled in a new generation bank (name withheld), were moved in tranches of N18,059,353,413 billion and N14,946,773,393.00 billion. 

The anti-graft agency equally alleged that both defendants, not being a financial institution, or an authorized foreign exchange dealer, negotiated a foreign exchange transaction in the sum of N9.416million, N20 million, N10,437,400.00, N10miillion, N2.46million, N10miillion, N100million, N61million, N100million, N40.7million and N42million. 

The EFCC insisted that the funds were domiciled in the defendants' account with the new generation bank. 

It was equally the allegation of the EFCC, that Ismaila Mustapha (Mompha), between 2015 and 2018, procured Ismalob Global Investment Ltd to retain the aggregate sum of N18,059,353,413 in its account No. 5260000846 domiciled in the new generation bank, "which sum you reasonably ought to have known formed part of the proceeds of unlawful act to wit: fraud. 

Ismaila Mustapha (Mompha) was alleged to have between 2015 and 2017, aided the company to retain the aggregate sum of N 14,946,773,393.00 in its account No. 5260000846 domiciled in the new generation bank, from Pitacalize Ltd. 

According to the EFCC, both actions offend Sections 18(3) and 15(2)(d) of the Money Laundering Prohibition Act. 2011 as amended and punishable under section 15 (3) of the same Act. 

Other part of the charge reads: "That you Ismaila Mustapha and lsrnalob Global Investments Limited, on or about the 17th day of December, 2015, not being an authorized seller appointed by the Central Bank of Nigeria, negotiated a foreign exchange transaction in the sum of N9,416.700.00 
(Nine Million Four Hundred and Sixteen Thousand Seven Hundred Naira) with Mr. lkechukwu Kingsley Onuzulike. 

"That you Ismaila Mustapha and lsmalob Global Investments Limited, on or about the 17th of December, 2015, not being an authorized seller appointed by the Central Bank of Nigeria pursuant to Section 5(1) of Foreign Exchange Monitoring and Miscellaneous (Provisions) Act CAP F34 LFN 2004 negotiated a foreign exchange transaction in the sum of N 20 million.

"That you Ismaila Mustapha and lsmalob Global Investments Limited, on or about the 21st December, 2015,  negotiated a foreign exchange transaction in the sum of N10,437,400.00 with Mr. lkechukwu Kingsley Onuzulike. 

"That you Ismaila Mustapha and lsmalob Global Investments Limited, on or about the 23rd day of December, 2015, not being an authorized seller appointed by the Central Bank of Nigeria, negotiated a foreign exchange transaction in the sum of N10,000,000.00 with Mr. lkechukwu Kingsley Onuzulike."

According to the EFCC, "The defendants also on or about the 4th day of January, 2016, without authorisation, negotiated a foreign exchange transaction in the sum of N2,463,800.00."

Ismaila Mustapha (Mompha) and the other defendant were further alleged to have negotiated a foreign exchange transaction in the sum of N10,000,000.00, with Mr. Ojei Osemeke contrary to the law. 

In another instance, they were said to have negotiated a foreign exchange transaction in the sum of N100,000,000.00 (One Hundred Million Naira) and N61,080,000.00 (Sixty One Million, Eighty Thousand Naira) with Mr. Okafor lkenna contrary to the law. 

The defendants were equally alleged to have did the same with the sums of N40,700.000.00 (Forty Million Seven Hundred Thousand Naira) and N42,100.000.00 (Forty Two Million, One Hundred Thousand Naira) with IK Tony Global Communications.

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