In the trial of Ismaila Mustapha, popularly known as Mompha, the sixth prosecution witness, Idi Musa, disclosed to Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, that a staggering N35 billion was discovered in two bank accounts linked to the defendant.
The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) had arraigned Mompha and his company, Ismalob Global Investment Limited, on January 12, 2022 over alleged money laundering. The eight-count charge includes conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct, and failure to disclose assets and property, among others.
One of the counts specifically alleges, “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 with the intent of promoting the carrying on of specified unlawful activities to wit: obtaining by false pretence.”
Mompha pleaded not guilty to all charges.
LEADERSHIP recalls that on September 22, 2022, Justice Dada ordered that the trial continue in absentia after Mompha jumped bail.
At the court proceedings on Monday, Musa, an investigator with the EFCC, provided detailed testimony about his involvement with the case. He revealed, “Sometime in 2019, we received intelligence from the FBI, USA. The letter was addressed to the commission, informing us that the first and second defendants were involved in cybercrime, otherwise known as Yahoo Yahoo.”
Musa explained that upon receiving the intelligence, the EFCC requested account statements from two major banks connected to the defendants. “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,” he testified.
The investigation extended to multiple agencies, including the FBI, Central Bank of Nigeria (CBN), and the Special Fraud Unit of the EFCC, especially regarding Mompha’s claims of operating a Bureau De Change business, which were found to be false.
Musa also detailed the dramatic events leading to Mompha’s arrest. “On October 18, 2019, the first defendant got information that the Commission was looking for him while he was in Nigeria. He quickly got to the airport and boarded a flight to evade arrest. However, immigration officers at the airport managed to get him off the flight, and he was immediately arrested and handed over to the EFCC.”
Further findings indicated that Mompha’s iPhone was instrumental in his alleged cybercrime activities. “A report from the FBI’s forensic analysis revealed that Mompha’s iPhone was used to send account details to a United Arab Emirates telephone number, which he used to search for Swift Codes of a bank,” Musa added.
The prosecution presented the defendant’s statement and Asset Declaration Form, which were accepted as evidence by the court.
Justice Dada adjourned the case until Tuesday, October 8, 2024, for the continuation of the trial.