The Ikeja special offences court has granted Mompha, the Instagram celebrity, a bail of N200 million in the case of alleged fraud involving him.
The court also asked him to produce two sureties, one of which must own a property valued at N100 million within its jurisdiction.
The Economic and Financial Crimes Commission (EFCC) had earlier arraigned the socialite for eight fresh charges bordering on alleged money laundering to the tune of over N6 billion.
He was arraigned alongside Ismalob Global Investment Limited, his firm.
But Mompha and his company had pleaded not guilty to the charges and filed for bail through Gboyega Oyewole, his lawyer.
During his trial on Tuesday, Mojisola Dada, the judge, approved the bail request while the case continues.
The judge also ordered that the Instagram celebrity be remanded in the custody of a correctional centre of his choice in Lagos pending the perfection of his bail conditions.
Dada ruled that his international passport, which was earlier submitted, should remain in the custody of the court’s registrar.
This is the second case in which the EFCC is charging Mompha.
Mompha is already facing an amended 22-count bordering on cyberfraud and laundering to the tune of N32.9 billion at the federal high court in Lagos.
Mompha fails to meet bail terms, opts for remand in prison
Ismaila ‘Mompha‘ Mustapha, the Nigerian socialite, has opted to be remanded at the Ikoyi correctional centre.
According to NAN, the social media personality failed to meet the bail conditions imposed by the Lagos court.
Mojisola Dada, the judge, at the resumption of proceedings, heard the submissions of Gboyega Oyewole (SAN), the defense counsel, and Rotimi Oyedepo (SAN), the EFCC prosecutor.
He granted Mompha bail-in “very strong terms.”
“The applicant is granted bail in the sum of N200 million with two sureties in like sum,” the judge had stated.
“One of the sureties must have the property valued at N100million within the jurisdiction of this honourable court.
“Both sureties must depose to an affidavit of means to allow the placement of a lien in their respective bank accounts, both sureties must be gainfully employed and resident within the jurisdiction of this court.
“The sureties must provide proof of tax payment for the past three years.
“The applicant shall however be remanded in a Correctional Center of his choice pending the perfection of his bail.”
Mompha, after consultation with his legal team, opted to be remanded at the Ikoyi correctional center.
The case was adjourned until March 28, 29, and April 4, 5, and 6 for commencement of trial.