Alleged N6bn Money Laundering: Court reserves judgment in Mompha’s trial till October 15

By Adebola Isimijola, Lagos

Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, has reserved judgment until October 15, 2026, in the alleged N6 billion money laundering case involving social media personality Ismaila Mustapha, popularly known as Mompha.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Mompha alongside his company, Ismalob Global Investment Limited, on an eight-count charge bordering on conspiracy to launder funds allegedly obtained through unlawful activities, retention of proceeds of criminal conduct, failure to disclose assets and possession of documents containing false pretences.

The anti-graft agency alleged that Mompha, one Ahmadu Mohammed, who is said to be at large, and Ismalob Global Investment Limited conspired in 2016 to conduct financial transactions amounting to N5,998,884,653.18 with the intent of promoting unlawful activities, including obtaining money by false pretence.

At the proceedings on Tuesday, defence counsel Kolawole Salami adopted the defendant’s final written address dated June 18, 2026, and argued that the prosecution failed to prove the charges beyond reasonable doubt.

Salami submitted that his client’s decision not to open a defence did not relieve the prosecution of its legal obligation to establish every ingredient of the offences charged.

He also argued that the prosecution failed to prove the allegations contained in Counts One to Six, adding that Exhibit P5, the extra-judicial statement relied upon by the prosecution, was insufficient to establish the offences.

According to Salami, none of the prosecution witnesses, particularly the EFCC investigating officer, Idi Musa, presented either direct or circumstantial evidence capable of sustaining the conspiracy charge. He therefore urged the court to discharge and acquit the defendant.

In response, prosecuting counsel S. I. Suleiman urged the court to dismiss the defence’s submissions and convict the defendants as charged.

According to Suleiman, “From the evidence before the court… the defendants availed their bank accounts to internet fraudsters to launder funds derived from fraudulent sources.”

He argued that the prosecution had called six witnesses and tendered sufficient documentary evidence to establish the offences, adding that a conviction would serve as a deterrent to others involved in similar crimes.

After hearing the submissions of both parties, Justice Dada reserved judgment until October 15, 2026.