A witness has revealed how the Economic and Financial Crimes Commission (EFCC) discovered up to N35 billion in bank accounts linked to Ismaila Mustapha, popularly known as Mompha.
Mompha is currently facing trial for an alleged N6 billion fraud case brought against him by the EFCC.
In 2022, the EFCC charged Mompha and his company, Ismalob Global Investment Limited, with eight counts of money laundering. The charges include conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct, and failure to disclose assets and property, among others. Mompha has pleaded not guilty to all charges.
According to a report by the News Agency of Nigeria (NAN), EFCC investigator Idi Musa testified at a special offences court in Ikeja, stating that the commission received information from the Federal Bureau of Investigation (FBI) indicating that Mompha and his company were involved in cybercrime in the United States.
The investigation revealed that Mompha and his syndicate defrauded internet users and that N35 billion was found in his bank accounts.
Musa explained that EFCC’s investigation included analyzing account statements from Zenith Bank and Fidelity Bank. They discovered an inflow of N30 billion in Mompha’s Fidelity Bank account and N5 billion in his Zenith Bank account.
The FBI’s report also showed that Mompha’s iPhone was used to send account details to a UAE telephone number to search for swift codes of a bank.
During his arrest, properties recovered from Mompha were registered with EFCC exhibit keepers. While most of the properties were returned to him on bond, his iPhone8 remained with the commission. The properties are considered proceeds of crime since Mompha did not declare them on his asset declaration form.
The prosecution presented Mompha’s statement and asset declaration form as evidence in court, which were admitted as exhibits P5 and P6.
The presiding judge, Mojisola Dada, adjourned the case until October 8 for the continuation of the trial.