Court Fixes October 15 Judgment in Mompha’s Alleged ₦6bn Money Laundering Trial

A Lagos State Special Offences Court sitting in Ikeja has reserved judgment until October 15, 2026, in the alleged ₦5.998 billion money laundering case involving social media personality Ismaila Mustapha, popularly known as Mompha.

Justice Mojisola Dada fixed the date on Tuesday after lawyers representing the Economic and Financial Crimes Commission (EFCC) and the defendant adopted their final written addresses, bringing the lengthy criminal trial to a close.

Mompha and his company, Ismalob Global Investment Limited, were arraigned by the EFCC on January 12, 2022 on an eight-count charge bordering on conspiracy to launder funds allegedly derived from unlawful activities, retention of proceeds of crime, failure to disclose assets and possession of documents containing false pretences.

According to the anti-graft agency, Mompha, his company and Ahmadu Mohammed, who is listed as being at large, allegedly conspired in 2016 to conduct financial transactions amounting to ₦5,998,884,653.18 with the intent of promoting proceeds allegedly obtained through false pretences.

The charge alleges that the transactions contravened Nigeria's anti-money laundering laws.

During Tuesday's proceedings, defence counsel Kolawole Salami adopted the defendant's final written address dated June 18, 2026 urging the court to discharge and acquit his client.

Salami argued that the prosecution failed to establish the essential ingredients of the offences beyond reasonable doubt, stressing that the defendant's decision not to open a defence did not lessen the prosecution's constitutional burden of proof.

According to him, the prosecution failed to substantiate the allegations contained in Counts One to Six, particularly the claim that the funds involved were proceeds of obtaining by false pretence.

He further submitted that Exhibit P5, the extra-judicial statement tendered by the prosecution, merely constituted a statement and did not amount to proof of the offences charged.

The defence also contended that PW6, the EFCC's investigating officer, Idi Musa, failed to provide either direct or circumstantial evidence capable of establishing the alleged conspiracy.

Responding, EFCC counsel S. I. Suleiman urged the court to dismiss the defence's arguments and convict the defendants on all counts.

He argued that the prosecution had successfully established its case through the testimony of six witnesses and several documentary exhibits tendered during the trial.

According to Suleiman, the evidence before the court showed that the defendants allegedly allowed their bank accounts to be used by internet fraudsters to launder proceeds of fraudulent activities.

"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 submitted.

The prosecutor added that a conviction would serve as a deterrent to individuals engaging in financial crimes capable of damaging Nigeria's international reputation.

After hearing submissions from both parties, Justice Dada reserved judgment and adjourned the matter until October 15, 2026 when the court is expected to deliver its verdict on the charges against Mompha and his company.

The case is one of the EFCC's most closely watched money laundering prosecutions involving a high-profile social media personality and has been before the court since 2022.