The EFCC is prosecuting Mompha and his company, Ismalob Global Investment Limited, over alleged money laundering and operating an unlicensed bureau de change.
Justice Mojisola Dada of the Lagos State Special Offences Court sitting in Ikeja has ruled that a prima facie case has been established against Nigerian social media personality, Ismaila Mustapha, popularly known as Mompha, and another defendant in the ongoing fraud trial.
According to a post on the Economic and Financial Crimes Commission’s (EFCC) official X account on Tuesday, the court dismissed the defendants’ no-case submission, stating that there is sufficient evidence to require them to enter a defence.
The EFCC is prosecuting Mompha and his company, Ismalob Global Investment Limited, over alleged money laundering and operating an unlicensed bureau de change.
The court subsequently adjourned the matter to January 27 and 28, 2026, for continuation of the hearing.
Mompha’s case has been ongoing for years, with multiple legal developments. The EFCC had initially accused him of laundering about ₦32.9 billion before later filing an eight-count charge involving approximately N6 billion
The charges include conspiracy to launder funds obtained through unlawful activity, retention of criminal proceeds, and failure to disclose assets.
In January 2022, the court granted him bail in the sum of ₦200 million with two sureties in like sum. However, his bail was later revoked in June 2022 after he failed to appear in court, leading to the issuance of a bench warrant for his arrest.
The EFCC subsequently declared him wanted in August 2022, accusing him of retaining proceeds of criminal conduct and making false asset declarations.
In May 2023, the EFCC announced that Mompha had been re-arrested in collaboration with international partners over alleged ₦6 billion laundering.
By July 2024, court proceedings revealed that over ₦30 billion, suspected to be proceeds of crime, had reportedly passed through his account.
During earlier hearings, the court admitted into evidence a report from the United States Federal Bureau of Investigation (FBI), which alleged that Mompha’s iPhone was used to send account details abroad and attempt fund transfers.
Mompha has consistently denied all allegations, accusing the EFCC of using his case for publicity. He maintains his innocence and insists that the charges against him are unfounded.
The case remains one of Nigeria’s most high-profile financial crime prosecutions, drawing public attention due to Mompha’s celebrity status and flamboyant lifestyle on social media.
