The sixth witness in the trial of Ismaila Mustapha, also known as Mompha, recounted to Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos how an astounding sum of N35 billion was discovered in two bank accounts linked to the defendant. Mompha and his company, Ismalob Global Investment Limited, were charged by the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) on January 12, 2022, with offenses including conspiracy to launder funds, retention of proceeds from criminal activities, and other financial crimes.
The witness, Idi Musa, an investigator with the EFCC, detailed how the investigation unfolded, stating, “Sometime in 2019, we received intelligence from the FBI, USA, informing us that Mompha and his associate were involved in cybercrime, commonly known as Yahoo Yahoo.” He further explained that the EFCC received bank statements from two major banks, revealing transactions totaling N35 billion linked to Mompha.
Musa clarified that despite Mompha’s claim of operating a Bureau De Change business, the investigation revealed otherwise. Efforts to apprehend Mompha intensified when he fled after learning of the EFCC’s pursuit. “On October 18, 2019, Mompha attempted to evade arrest by boarding a flight out of Nigeria upon learning of our search for him,” Musa added. However, immigration officials intercepted him at the airport, leading to his arrest and subsequent handover to the EFCC.
Regarding the forensic aspect, Musa mentioned, “A report from the FBI’s forensic analysis showed that Mompha’s iPhone was used to send account details to a UAE phone number, used for bank transactions.” Furthermore, all seized properties were duly recorded at the EFCC’s Exhibits Section.
The trial continued in Mompha’s absence after he absconded while on bail, as ordered by Justice Dada on September 22, 2022. Musa’s testimony underscored the gravity of the charges, emphasizing money laundering and operating an unlicensed Bureau De Change business, matters now before a Federal High Court in Ikoyi, Lagos.
The prosecution, led by S. I. Suleiman, stressed the scale of financial irregularities discovered, urging the court to consider the evidence meticulously gathered by the EFCC and FBI. The case signifies a significant effort in combating financial crimes, with implications for international cybercrime networks.
As the proceedings advance, the EFCC remains resolute in pursuing justice, seeking to uphold the rule of law amidst complex financial investigations. The revelations from Musa’s testimony underscore the collaborative efforts between local and international law enforcement agencies in tackling sophisticated financial crimes impacting Nigeria and beyond.
