At the Special Offences Court in Ikeja, Lagos, the sixth prosecution witness, Idi Musa, detailed the discovery of N35bn in two bank accounts linked to Ismaila Mustapha, popularly known as Mompha.
On January 12, 2022, the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) arraigned Mompha and his company, Ismalob Global Investment Limited, on an eight-count charge. The charges include conspiracy to launder funds obtained through unlawful activity and failure to disclose assets.
One charge stated, “Ismaila Mustapha, Ahmadu Mohammed (at large), and Ismalob Global Investment Limited, sometime in 2016, conspired to conduct financial transactions amounting to N5,998,884,653.18 with the intent of promoting specified unlawful activities, namely obtaining by false pretence.”
Mompha pleaded “not guilty” to all charges.
During Monday’s proceedings, Musa, an EFCC investigator, testified that the commission received intelligence from the Federal Bureau of Investigations (FBI) in 2019, indicating that Mompha and his company were involved in cybercrime in the United States. Musa explained, “Sometime in 2019, we received intelligence from the FBI, USA. The letter informed us that the first and second defendants were involved in cybercrime, otherwise known as Yahoo Yahoo.”
Musa described how the EFCC obtained and analysed bank account statements linked to Mompha, revealing substantial transactions. “During the analysis, we discovered a heavy flow of N30bn through the account of the first defendant (Mompha) in one of the banks and about N5bn in another bank account,” Musa said.
The investigation further revealed that Mompha did not reside in Nigeria and attempts to contact him were unsuccessful. The EFCC issued a notice to the Nigeria Immigration Services, resulting in Mompha’s arrest on October 18, 2019, as he attempted to leave the country.
Musa also noted that forensic analysis by the FBI showed that Mompha’s iPhone was used to send account details to a UAE number and search for Swift Codes of a bank. “Upon his arrest, all the properties recovered from him were registered with the Exhibits Section in the EFCC office,” Musa added.
Justice Mojisola Dada had earlier ordered that the trial proceed in absentia after Mompha jumped bail in September 2022.
