The Special Offences Court sitting in Ikeja, Lagos has granted an internet celebrity, Ismaila Mustapha, popularly known as Mompha, bail in the sum of N200m with two sureties in like sum, IgbereTV reports
Justice Mojisola Dada who granted the bail application of the defendant also ordered that one of the sureties must own property valued at N100 million within the jurisdiction of the court.
The court also ordered the defendant to return his international passport to the custody of the court while ordering his remand in any Correctional Centre of his choice in Lagos pending the perfection of the bail conditions.
Fresh reports however indicate that Mompha has opted to be remanded at the Ikoyi correctional centre following his inability to meet the bail conditions.
He is facing an eight-count charge of alleged money laundering of over N6 billion before the court.
Last week Wednesday, the EFCC had arraigned Mompha alongside his firm, Ismalob Global Investment Limited for alleged money laundering to the tune of over N6 billion.
Mompha pleaded not guilty to all the counts.
In granting bail, Justice Mojisola Dada listened to arguments from Mompha’s counsel, Gboyega Oyewole (SAN). The court also listened to counterarguments from counsel to the EFCC, Rotimi Oyedepo.
In his submissions, Oyewole who moved the bail application for his client through an 18-paragraph affidavit containing eight exhibits urged the court to grant Mompha bail on “liberal terms.”
Oyewole said, “It’s a bailable offence and most important is that the defendant is also standing trial on a 22 count charge before a Federal High Court [Ikoyi, Lagos] for more grievous offences before Justice Mohammed Liman who also admitted him to bail.
“The prosecution has called 10 witnesses in that case and he has never missed court.”
Oyewole, also told the Court that though Justice Liman had been transferred out of jurisdiction to Kano, the judge had got a fiat to continue hearing the case.
In his submissions to oppose the grant of bail, the EFCC’s prosecuting counsel, Rotimi Oyedepo, through a 19-page counter-affidavit, including three exhibits, asked the Court to instead, grant an accelerated hearing of the case.