A Lagos Special Offences Court has fixed October 15, 2026, to deliver judgment in the alleged N6 billion money laundering case involving socialite Ismaila Mustapha, popularly known as Mompha.
The case, being heard before Justice Mojisola Dada in Ikeja, was adjourned for judgment after both the defence team and the Economic and Financial Crimes Commission (EFCC) presented and adopted their final written arguments.
Mompha and his company, Ismalob Global Investment Limited, are facing an eight-count charge bordering on alleged conspiracy, money laundering, retention of proceeds of unlawful activities, failure to disclose assets, and possession of documents containing false pretences.
During the latest court session, Mompha’s lawyer, Kolawole Salami, argued that the EFCC failed to prove the allegations against his client beyond reasonable doubt.
He maintained that although the defendant chose not to open a defence, the burden remained on the prosecution to establish every charge brought before the court.
Salami further argued that the prosecution did not provide enough evidence to support the allegations, particularly the claims of obtaining by false pretence and conspiracy.
According to him, the extra-judicial statement presented as evidence was insufficient on its own, while none of the prosecution witnesses, including the EFCC’s investigating officer, presented direct or convincing circumstantial evidence linking Mompha to the alleged offences.
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He therefore urged the court to acquit and discharge the defendant.
In response, EFCC counsel S. I. Suleiman insisted that the prosecution had successfully established its case by calling six witnesses and presenting documentary evidence to support the charges.
He asked the court to reject the defence’s submissions and convict both Mompha and his company.
He said: “From the evidence before the court, it is our humble submission that the opportunity has once again presented itself for the invocation of the judicial powers of this court to send a clear signal and warning to persons engaging in nefarious activities that cast the image of the country in a bad light among the comity of nations.”
He added: “The defendants availed their bank accounts to internet fraudsters to launder funds derived from fraudulent sources”.
Responding, S. I. Suleiman, the prosecuting counsel, adopted the prosecution’s final written address and urged the court to dismiss the defence’s arguments and convict the defendants as charged.
He maintained that the prosecution called six witnesses and tendered sufficient documentary evidence to establish the offences.
After listening to both sides, Justice Mojisola Dada adjourned the matter and fixed October 15, 2026, for judgment.