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Fraud Trial: We discovered N35bn In Mompha’s Bank Accounts — EFCC Witness Tells Court

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A witness has come forward to reveal that the Economic and Financial Crimes Commission (EFCC) uncovered a staggering sum of ₦35 billion in bank accounts linked to Ismaila Mustapha, alias Mompha, a prominent socialite.

This discovery is part of an ongoing trial where Mompha is facing charges of alleged fraud totaling ₦6 billion, as filed by the EFCC.

Recall that the EFCC, in 2022, arraigned Mompha and his company Ismalob Global Investment Limited on an eight-count charge of money laundering.

The charges include conspiracy to launder funds obtained through unlawful activity, retention of proceeds of criminal conduct, laundering of funds obtained through unlawful activity, and failure to disclose assets and property.

They also include possession of documents containing false pretences and use of property derived from unlawful acts, to which Mompha pleaded not guilty.

The socialite was said to have absconded, with the EFCC seeking to re-arrest and get him to court since June 16, 2022.

According to NAN, Idi Musa, an investigator with the EFCC, gave his testimony at a special offences court sitting in Ikeja on Monday.

Musa told the court that EFCC received a report from the Federal Bureau of Investigation (FBI) saying that Mompha and his company led a cybercrime in the US.

He said the information revealed that Mompha and his company belong to a syndicate defrauding internet users.

The witness said N35 billion was discovered in Mompha’s bank accounts.

Musa said the social media celebrity claimed he was “into Bureau De Change business but investigation showed that he was not”.

“In the course of the investigation, some letters were written to Zenith Bank and Fidelity Bank requesting account statements,” he said.

“The account statement was analysed. We discovered an ₦30 billion inflow through the account of the first defendant in Fidelity Bank and ₦5 billion in the Zenith Bank account.

“The combination of the FBI and an investigative report revealed that Mompha’s iPhone was used to send account details to a UAE telephone number to search for swift codes of a bank.”

The witness said all the properties recovered from Mmpha were registered with exhibit keepers in the EFCC office during his arrest.

He said most of the properties were released to him on bond, except his iPhone8 which was still with the commission.

Musa said the items are treated as proceeds of crime because he did not include them when he was handed an asset declaration form.

The prosecution tendered Mompha’s statement and his asset declaration form to the court.

They were admitted in evidence as exhibits P5 and P6.

Mojisola Dada, the presiding judge, adjourned the case until October 8 for continuation of trial.

BIG STORY

BREAKING: President Tinubu Arrives National Assembly To Present N47.96tn 2025 Budget

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Barring any last-minute twist, President Bola Tinubu has just arrived at the National Assembly Complex with his entourage to present the 2025 budget proposal before a joint session of parliament.

The Federal Executive Council on Monday approved the N47.96tn budget estimate for the 2025 fiscal year.

Consequently, security agents, including operatives of the Department of State Services, the Nigeria Police Force, Nigerian Security and Civil Defence Corps, Sergeant-At-Arms, and the Federal Road Safety Corps, are restricting access to the complex, assuring that only those with legitimate business related to the proposed budget presentation are allowed entry through the gates.

Staff members of the National Assembly providing clerical and other auxiliary services were on Tuesday instructed to remain at home until the President’s visit was over.

 

More to come…

 

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After Spending Over 14 Yrs In Prison, Governor Adeleke To Pardon Man Sentenced To Death For ‘Stealing Chicken’

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Ademola Adeleke, governor of Osun, is seeking to pardon Segun Olowookere, who was sentenced to death by hanging for allegedly stealing a fowl and eggs in 2010.

In an interview with Biola Adebayo, a Nigerian actress, the parents of the victim claimed that police officers from the Osun command arrested Olowookere for an offence he did not commit.

Olowookere Olanrewaju, the man’s father, said a divisional police officer (DPO) asked him to pay N30,000 for his son’s release, but N20,000 was all he could raise at the time.

“We are here to beg Nigerians to help us. In 2010, I was at the shop where I was renting out cassettes, and at about 11am, some police officers came around,” he said.

“We later found out some students from Segun’s school were in their vehicle and they said they were arrested because of the theft of a chicken and eggs.

“Truth be told, Segun does not eat chicken. Because I trained broilers. He refused to run away, telling us that he didn’t know anything about the theft of the chicken.

“They came back around 9pm in the night and he was eventually arrested. It was when I visited the station that I knew who owned the chicken and eggs. He was just like a brother to me.

“I was told by the DPO in charge to bring N30,000 so my son could be released but after running around, all I could raise was N20,000 which he refused to collect.”

Folashade Olowookere, mother of the victim, said her son, who was 17 at the time of his arrest, has now spent over 14 years in prison since he was sentenced.

In a statement on Wednesday, Adeleke directed the attorney-general and commissioner for justice in Osun to commence a full probe into the matter.

“I have received the report of a case of a young man reportedly sentenced to death by hanging in Osun State for stealing a fowl,” the statement reads.

“Consequently, I have directed the Attorney-General and Commissioner for Justice, Osun State to commence full investigation into the matter and initiate processes to grant the prerogative of mercy to the young man.

“Osun is a land of justice and equity and must ensure fairness and protection of the sanctity of lives.

“I assure members of the public that this matter is receiving my direct attention with every sense of urgency also attached to our response to the matter.”

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BIG STORY

Two LAUTECH Students Win N20m In NOA Campus Debate Competition

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  • Extra N1million from NELFund

 

Two students of the Ladoke Akintola University of Technology (LAUTECH) in Ogbomoso, Oyo State, Adekunle Ayomide and Oladeji Oluwashina, have won the 2024 National Orientation Agency (NOA) campus debate competition.

The competition, organized by the NOA, featured two university representatives from each of the six geopolitical zones, debating the topic “Criticising and dissenting peacefully while maintaining love for one’s country.”

The LAUTECH representatives emerged victorious in the debate, receiving a prize of N20 million.

The students were also awarded an additional N1 million from the Nigerian Education Loan Fund (NELFund).

Ahmadu Bello University in Zaria and the University of Ilorin were the first and second runner-ups, winning N750,000 and N500,000, respectively.

Ignatius Ajuru University of Education in Port Harcourt, Gombe State Polytechnic in Bajoga, and the Institute of Management and Technology in Enugu secured the fourth, fifth, and sixth positions, respectively.

Speaking during the event on Tuesday, Lanre Issa-Onilu, the NOA director-general, stated that the debate aims to engage the youth in governance matters.

Issa-Onilu emphasized that while criticism is essential for nation-building and democracy, it must be constructive to ensure peace and development.

He congratulated the participants for their thoughtful strategies in engaging with the government constructively.

“Constructive criticism is not rebellion; it is a cornerstone of democracy and a vital tool for nation-building,” Issa-Onilu said.

“Patriotism is not silence. Loving your country does not mean turning a blind eye to its shortcomings. It means recognizing those shortcomings, speaking up against them constructively, and working together to find solutions.”

Akintunde Sawyerr, managing director of NELFund, reaffirmed the agency’s commitment to ensuring that Nigerian students have access to quality tertiary education through its education loans.

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