A Nigerian court has remanded socialite and Instagram celebrity, Ismaila Mustapha popularly known as Mompha, in prison for allegedly laundering over N6 billion for the singer, Jimoh Olayinka Dolapo better known as Nappy Boy, owner of NapTown records.
Recall that Mompha was arrested on Monday, January 10, 2022, for laundering funds obtained through unlawful activities.
He is standing trial alongside his company, Ismalob Global Investment Limited.
On Wednesday, January 12, 2022, A Lagos Special Offense Court sitting in Ikeja ordered the remand of socialite Ismaila Mustapha, in the Economic and Financial Crimes Commission (EFCC) custody pending the hearing of his bail application.
Justice Mojisola Dada ordered his remand after he was arraigned on eight count charges which border on aiding internet fraud and having fraudulent documents.
Mompha and his company were accused of conspiracy to launder funds obtained through unlawful activities, retention of such funds, transfer of funds for a suspect Jimoh Olayinka Dolapo also known as Nappy Boy, and unlawful transfer of funds for a record label and others.
The sums named in the charge are N5,998,884.653.18, 32 million, N12 million, and N15,960,000, totaling over N6 billion.
The EFCC also alleged that Mompha concealed his interest in expensive wristwatches and other movable assets valued at over N70 million.
However, Mompha pleaded not guilty to the eight counts. Justice Dada adjourned till January 18, 2022 to hear and rule on a bail application filed by the defendant’s counsel, Gboyega Oyewole.
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