Just In: Mompha Granted 100m Bail

Suspected money launderer, Ismaila Mustapha, AKA Mompha, was on Friday granted bail by the Federal High Court in Lagos State.

Mompha was granted bail in the sum of N100m, TVC reports.

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

Naija News understands that he was charged with 14 counts bordering on cyber fraud and money laundering by the EFCC.

The suspected internet fraudster pleaded not guilty to the money laundering charges levelled against him.

However, Justice Mohammad Liman remanded him in prison custody and adjourned till Friday for hearing of his bail application and commencement of trial.

Mompha had dragged EFCC before a High Court in Lagos State for detaining him beyond the constitutionally stipulated days without charging him to court.

In the suit filed by his lawyers, Gboyega Oyewole (SAN), Ademola Adefolaju, Kolawole Salami and four others, the businessman is demanding the sum of N5m as damages from the anti-graft agency.

The self-acclaimed Bureau-De-Change operator also sought a court order directing the EFCC to release him unconditionally forthwith from its custody.