Court grants Mompha N100m bail

A Federal High Court sitting in Lagos granted bail to a suspected money launderer, Ismaila Mustapha, AKA Mompha on Friday, November 29th.

According to the TVC, Mompha was granted bail to the tune of N100m.

EFCC had arrested Mompha in October for alleged internet fraud and money laundering at the Nnamdi Azikiwe International Airport in Abuja.

Mompha was arraigned for alleged N33billion fraud. Following his continued detention, he instituted a fundamental rights enforcement suit against EFCC for detaining him beyond the constitutionally stipulated days without charging him to court.

Mompha is facing 14 counts bordering on fraud, money laundering and running a foreign exchange business without the authorisation of the Central Bank of Nigeria (CBN).

Justice Liman granted Mompha N100m bail with one surety who must be a landed property owner.

The defendant was ordered to deposit his passport with the Deputy Chief Registrar of the court and report at the EFCC office every fortnight to show that he has not left the country.