Court reduces Mompha’s bail sum from N200 million to N25 million

An Ikeja Special Offences Court on Monday, March 28, 2022, reduced from N200 million to N25 million, the bail sum for social media celebrity, Ismaila Mustapha (alias Mompha), charged with N6 billion money laundering.

Justice Mojisola Dada made the ruling following a prayer by defence counsel, Mr Gboyega Oyewole (SAN), and submission by the prosecution counsel, Mr Rotimi Oyedepo.

Dada had on January 18, 2022, granted Mompha bail in the sum of N200 million and 2 sureties.

However, on Monday, she held: “The defendant is admitted to a bail of N25 million with two sureties in like sum.

“One of the sureties must have a landed property worth N50 million within the court’s jurisdiction.

“The defendant shall be temporarily released to defence counsel only for two weeks pending the perfection of the bail conditions.

“Defence counsel should also write an undertaking to that effect.”

In January 2022, Mompha was re-arrested by the Economic and Financial Crimes Commission (EFCC) over alleged money laundering.

The commission is accusing the popular socialite of laundering funds obtained through unlawful activities and retaining proceeds of crime.