Court grant Mompha bail in the sum of 100M

A Federal High Court in Lagos on Friday, granted bail to suspected money launderer, Ismaila Mustapha, also known as Mompha.

According to sources, Mompha was granted bail in the sum of N100m.

Recall that Economic Financial Crimes Commission had arrested Mompha on October 19 for alleged internet fraud and money laundering recently at the Nnamdi Azikiwe International Airport in Abuja.

Mompha was arraigned for alleged N33billion fraud.

Following his arraignment at the Federal High Court, Ikoyi, Lagos by the EFCC, Mompha on Thursday dragged the EFCC before a High Court in Lagos.

Mompha instituted a fundamental rights enforcement suit against EFCC for detaining him beyond the constitutionally stipulated days without charging him to court.

In the commencement of trial on Monday, Mompha pleaded not guilty to a 14-count charge bordering on fraud offences.

Justice Mohammad Liman in ruling ordered that Mompha be remanded in prison custody

The court also adjourned till Friday for hearing of Mompha’s bail application and the commencement of his trial.

Details shortly…..