In a dramatic courtroom revelation, Idi Musa, the sixth prosecution witness in the trial of Ismaila Mustapha, also known as Mompha, detailed how a staggering N35 billion was uncovered in two bank accounts linked to the defendant. The disclosure was made on Monday before Justice Mojisola Dada at the Special Offences Court in Ikeja, Lagos.
Mompha, who was arraigned by the Economic and Financial Crimes Commission (EFCC) on January 12, 2022, alongside his company Ismalob Global Investment Limited, faces an eight-count charge. These charges include conspiracy to launder funds obtained through unlawful activities, retention of criminal proceeds, failure to disclose assets, and possession of documents containing false pretenses.
One of the charges specified, “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 pretense.”
Mompha pleaded not guilty to all charges. However, on September 22, 2022, Justice Dada ruled that the trial would continue in absentia after Mompha jumped bail.
During the proceedings, Musa, an EFCC investigator, testified that the commission received intelligence from the Federal Bureau of Investigations (FBI) in 2019, indicating that Mompha and his company were involved in cybercrime in the United States.
“We received intelligence from the FBI, USA, that the first and second defendants were involved in cybercrime, otherwise known as Yahoo Yahoo,” Musa recounted. He revealed that analysis of the bank account statements linked to Mompha showed a flow of N30 billion through one account and N5 billion through another.
Musa detailed how letters were sent to the FBI, the Central Bank of Nigeria, and other relevant agencies to verify Mompha’s claims that he was involved in the Bureau De Change business. However, investigations revealed that he did not have the necessary licenses.
He further narrated the events leading to Mompha’s arrest, stating, “A letter was written to the Nigeria Immigration Services on October 16, 2019, to arrest the defendant anytime he was seen in the country. On October 18, 2019, Mompha attempted to flee the country but was intercepted and handed over to the EFCC by immigration officers.”
Musa testified that forensic analysis by the FBI revealed that Mompha’s iPhone was used to send account details and search for Swift Codes of banks, implicating him further in illicit activities.
The court admitted Mompha’s statement and his Asset Declaration Form as evidence. The trial was adjourned by Justice Dada to October 8, 2024, for continuation.
This case continues to unfold with significant implications for the fight against cybercrime and financial fraud in Nigeria.
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