The trial of suspected fraudster Ismaila Mustapha, also known as Mompha, has commenced with three witnesses testifying against him at the Federal High Court in Lagos. Mompha is facing 14 counts bordering on fraud, money laundering and running a foreign exchange business without the authorisation of the Central Bank of Nigeria (EFCC).
He was arraigned by the Economic and Financial Crimes Commission (EFCC) on Monday alongside a firm, Ismalob Global Investment Limited. The EFCC accused Mompha of procuring Ismalob Global Investment Limited and retaining in its bank account an aggregate of N32.9 billion between 2015 and 2018.
At the opening of the trial on Friday, a compliance officer with Fidelity Bank, Peter Adegoke, who testified as the second prosecution witness, told Justice Mohammed Liman that Ismalob Global Investment Limited has a bank account domiciled in the bank.
