EFCC Seeks Conviction as Court Reserves Judgment in Mompha’s Alleged ₦6bn Money Laundering Trial
Justice Mojisola Dada of the Lagos State Special Offences Court sitting in Ikeja has reserved judgment until October 15, 2026, in the alleged ₦6 billion money laundering case involving social media personality Ismaila Mustapha, popularly known as Mompha.
The Economic and Financial Crimes Commission (EFCC) 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.
One of the counts reads: “Ismaila Mustapha, Ahmadu Mohammed (at large), and Ismalob Global Investment Limited, sometime in 2016, in Lagos, within the jurisdiction of this Honourable Court, conspired among yourselves to conduct financial transactions to the tune of ₦5,998,884,653.18 (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.”
During the trial, the prosecution, led by S. I. Suleiman, called six witnesses and tendered several documentary exhibits before closing its case.
At the proceedings on June 30, 2026, defence counsel 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.
Salami noted 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.
He explained that the prosecution failed to prove the offences alleged in Counts One to Six, particularly the allegation of obtaining by false pretence.
Salami also argued that Exhibit P5, the extra-judicial statement relied upon by the prosecution, was merely a statement and did not establish the offences charged.
He contended that none of the prosecution witnesses, particularly PW6, EFCC investigating officer Idi Musa, provided 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 adopted the prosecution’s final written address and urged the court to dismiss the defence’s arguments and convict the defendants as charged.
Suleiman 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,” he stated.
He added that a conviction would serve as a deterrent to the defendants and others contemplating similar offences capable of tarnishing Nigeria’s image.
After hearing the submissions of both parties, Justice Dada reserved judgment until October 15, 2026.
