The Lagos State Special Offences Court sitting in Ikeja has reserved judgment in the alleged N6bn money laundering case involving Ismaila Mustapha, popularly known as Mompha.
Justice Mojisola Dada adjourned judgment till October 15, 2026, after hearing final submissions from both the prosecution and defence during Mustapha’s alleged crime trial.
The Economic and Financial Crimes Commission (EFCC) had arraigned Mompha and his company, Ismalob Global Investment Limited, on January 12, 2022, on an eight-count charge bordering on conspiracy to launder, retention of proceeds of crime, failure to disclose assets, and possession of documents containing false pretences.
One of the counts accuses Mompha, alongside Ahmadu Mohammed and his company, of conspiring in 2016 to conduct transactions worth N5,998,884,653.18, to promote unlawful activities, including obtaining by false pretence.
The prosecution, led by S. I. Suleiman, called six witnesses and presented several documents.
During the proceedings, defence lawyer Kolawole Salami argued that the prosecution failed to prove the charges against Mompha.
He also said Exhibit P5, the statement the prosecution relied on, was just a statement and did not prove the charges.
According to him, none of the prosecution’s witnesses, including the EFCC investigator, Idi Musa, who testified as the sixth prosecution witness, gave evidence strong enough to support the conspiracy charge. He asked the court to discharge and acquit his client.
However, the lead prosecution counsel, S. I. Suleiman, urged the court to reject the defence’s arguments and convict the defendants.
He said the prosecution had called enough witnesses and tendered enough documents to prove the case.
He said: “The defendants availed their bank accounts to internet fraudsters to launder funds derived from fraudulent sources,” adding that a conviction would warn others against similar crimes that damage Nigeria’s image abroad.
After listening to both sides, Justice Dada reserved judgment until October 15, 2026.
(The Whistler)