A Federal High Court sitting in Lagos has fixed ruling on a no case submission by an internet celebrity, Ismaila Mustapha (Mompha) standing trial for alleged N32.9 billion fraud for Dec. 9,
Mustapha is standing trial on 14 count charges bordering on fraud, money laundering and operation of a foreign exchange business without authorisation by the Central Bank of Nigeria preferred against him by the Economic and Financial Crimes Commission (EFCC).
He was arraigned alongside a firm, Ismalob Global Investment Ltd.
He pleaded not guilty to the charge, and was granted bail in the sum of N100 million with one surety in the like sum.
Justice Mohammed Liman had on Oct. 14, fixed ruling on the no case submission for Wednesday, November 18, but it could not be delivered as the court did not sit.
EFCC accused Mompha of procuring Ismalob Global Investment Ltd. and retaining in its account, an aggregate sum of N32.9 billion from 2015 to 2018.
The anti-graft agency alleged that Mompha laundered the sum of N32.9 billion through Ismalob Global Investment Ltd. from 2015 to 2018.
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It further alleged that defendants negotiated foreign exchange transactions in various sums such as N9.4 million, N20 million, N10.4 million, N2.4 million, N100 million, N61 million, N40.7 million, N42 million.
Mustapha was also alleged to have aided Ismalob to retain an aggregate sum of N 14 billion in its account, which was procured from Pitacalize Ltd.
The alleged offences contravene the provisions of Sections 15(2) and 18(3) of the Money Laundering Prohibition Act of 2011 as amended.
The prosecution closed its case on July 17 after calling its 10th witness.
On Oct. 14, defence counsel, Mr. Gboyega Oyewole (SAN), informed the court that he filed a no case submission dated Aug. 11.
Oyewole submitted that the prosecution failed to establish a prima facie case against the defendant.
In his response, EFCC counsel, Mr. Suleiman Suleiman, asked the court to determine whether evidence adduced by prosecution sufficiently linked the defendant to the offences to warrant him to be called on to open his defence and make explanations.
