Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, has ruled that a prima facie case has been established against social media personality Ismaila Mustapha, popularly known as Mompha, and his company, Ismalob Global Investment Limited, in their ongoing fraud trial.
According to a post by the Economic and Financial Crimes Commission (EFCC) on its official X account on Tuesday, the court dismissed the defendants’ no-case submission, holding that there is sufficient evidence requiring them to open their defence.
The EFCC is prosecuting Mompha and his firm on allegations of money laundering and operating an unlicensed bureau de change.
Justice Dada subsequently adjourned the matter to January 27 and 28, 2026, for the continuation of trial.
Mompha’s legal battles with the EFCC date back several years and have involved multiple amendments to the charges. The anti-graft agency initially accused him of laundering about ₦32.9 billion, before later re-filing an eight-count charge involving approximately ₦6 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 Mompha bail in the sum of ₦200 million with two sureties in like amount. However, the bail was revoked in June 2022 after he failed to appear in court, prompting the issuance of a bench warrant for his arrest.
The EFCC later declared him wanted in August 2022, accusing him of retaining proceeds of criminal conduct and making false declarations of assets.
In May 2023, the agency announced that Mompha had been re-arrested, in collaboration with international partners, over alleged laundering of ₦6 billion.
By July 2024, court proceedings revealed that more than ₦30 billion, suspected to be proceeds of crime, had reportedly passed through accounts linked to him.
During earlier hearings, the court admitted into evidence a report from the U.S. Federal Bureau of Investigation (FBI), which alleged that Mompha’s iPhone was used to send bank account details abroad and initiate fund transfers.
Mompha has repeatedly denied all allegations, accusing the EFCC of using his case for “publicity.” He insists he is innocent and that the charges against him are baseless.
The case remains one of Nigeria’s most high-profile financial crime prosecutions, drawing widespread public attention due to Mompha’s celebrity status and ostentatious lifestyle on social media.
