Court to deliver judgment in Mompha’s ‘N6bn fraud’ case October 15

A Lagos State Special Offences Court sitting in Ikeja has fixed October 15, 2026, for judgment in the alleged N6 billion money laundering case involving socialite Ismaila Mustapha, popularly known as Mompha.

Justice Mojisola Dada adjourned the matter for judgment after both the defence and the Economic and Financial Crimes Commission (EFCC) adopted their final written addresses.

Mompha is standing trial alongside his company, Ismalob Global Investment Limited, on an eight-count charge bordering on alleged conspiracy, money laundering, retention of proceeds of unlawful activities, failure to disclose assets, and possession of documents containing false pretences.

Following his earlier arraignment, Mustapha was initially remanded in EFCC custody but was later granted bail in the sum of N200 million, which he was unable to meet. The court subsequently reviewed the bail conditions, reducing the amount to N25 million.

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 beyond reasonable doubt.

Salami contended that the defendant’s decision not to open a defence did not absolve the prosecution of its legal duty to prove the charges. He argued that the prosecution failed to substantiate the allegations contained in counts one to six, particularly the claim of obtaining by false pretence.

He further submitted that Exhibit P5, the extra-judicial statement relied upon by the prosecution, did not sufficiently establish the offences charged. According to him, none of the prosecution witnesses, especially the sixth prosecution witness (PW6), EFCC investigating officer Idi Musa, provided direct or circumstantial evidence to support the conspiracy charge.

The defence, 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.

He maintained that the prosecution presented six witnesses and tendered substantial documentary evidence to prove its case.

“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 tarnish the image of the country among the comity of nations. The defendants availed their bank accounts to internet fraudsters to launder funds derived from fraudulent sources,” he said.

After hearing submissions from both parties, Justice Dada reserved judgment until October 15, 2026.