Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja has fixed October 15, 2026 to deliver judgement in the case involving embattled social media personality Ismaila Mustapha, popularly known as Mompha over alleged offences of conspiracy and money laundering to the tune of over N6billion, along with his company, Ismalob Global Investment Limited.
Justice Dada fixed the date after taking final submissions from both prosecution and defence counsel who adopted their written addresses.
The defendant and his company, Ismalob Global Investment Limited are facing an eight-count charge of conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct, laundering of funds obtained through unlawful activity, failure to disclose assets and property, possession of documents containing false pretence and use of property derived from an unlawful act.
The Economic and Financial Crimes Commission, EFCC, had arraigned Mompha alongside his company, Ismalob Global Investment Limited, on January 12, 2022, 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, among other offences.
Ismaila Mustapha, Ahmadu Mohammed (at large) and Ismalob Global Investment Limited, sometime in 2016 in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to conduct financial transactions to the tune of N5,998,884,653.18 (Five Billion Nine Hundred and Ninety-eight Million Eight Hundred and Eighty-four Thousand Six Hundred and Fifty-three Naira Eighteen Kobo), with the intent of promoting the carrying on of specified unlawful activities to wit: obtaining by false pretence.
Another reads in part, “On about the 28th day of January 2019, in Lagos within the jurisdiction of this Honourable court with intent of promoting Olayinka Jimoh also known as Nappy Boy in the carrying on of unlawful activities, conducted financial transaction in the the aggregate sum of N32m, which some in part involves the proceeds of a specified unlawful activity to which obtaining money by false pretence.”
During the trial, Counsel to the EFCC led by Suleiman Suleiman called six witnesses and tendered several documentary exhibits before closing its case.
But the Counsel to the defendant, Kolawole Salami adopted the defendant’s final written address dated June 18, 2026, arguing that the prosecution failed to establish its case against his client.
He submitted that the defendant’s decision not to enter a defence did not relieve the prosecution of its legal obligation to prove the charges beyond reasonable doubt.
According to defence counsel, the prosecution failed to prove the offences alleged in counts 1 to 6, particularly the allegation of obtaining by false pretence.
He further argued that exhibit P5, the extra-judicial statement relied upon by the prosecution, was merely a statement and did not establish the offences charged.
The defence also contended that none of the prosecution witnesses, particularly PW6, EFCC investigating officer Idi Musa, provided neither direct nor circumstantial evidence capable of sustaining the conspiracy charge.
He therefore urged the court to discharge and acquit the defendant.
Responding, the prosecution counsel, Suleiman adopted the it’s final written address and urged the court to dismiss the defence’s arguments and convict the defendants as charged.
He maintained that the prosecution called six witnesses and tendered sufficient documentary evidence to establish the offences.
“From the evidence before the court, it is our humble submission that the opportunity has once again presented itself for the invocation of the judicial powers of this court to send a clear signal and warning to persons engaging in nefarious activities that cast the image of the country in a bad light among the comity of nations. The defendants availed their bank accounts to internet fraudsters to launder funds derived from fraudulent sources,” Suleiman told the trial judge.
The EFCC prosecutor added that a conviction would serve as a deterrent to the defendants and others contemplating similar offences capable of tarnishing Nigeria’s image.
