Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
Justice Mojisola Dada of the Lagos State Special Offences Court sitting in Ikeja has reserved judgment until October 15, 2026, in the alleged N6 billion money laundering case involving social media personality Ismaila Mustapha, popularly known as Mompha. The judgment date was set on Tuesday, June 30, 2026, after the prosecution and defence adopted their final written addresses, bringing the protracted trial closer to a conclusion.
Mompha is standing trial alongside his company, Ismalob Global Investment Limited, on an eight-count charge bordering on conspiracy to launder funds allegedly obtained through unlawful activities, retention of proceeds of criminal conduct, failure to disclose assets, and possession of documents containing false pretences. The defendants were first arraigned on January 12, 2022, and have pleaded not guilty to all charges.
The case has been ongoing since 2021, with the prosecution calling five witnesses before closing its case. The charges include allegations that the defendants conspired in 2016 to conduct financial transactions totalling N5,998,884,653.18 with the intent of promoting alleged unlawful activities involving obtaining money by false pretence. The EFCC also alleged that Mompha operated an unlicensed bureau de change as part of the scheme.
On November 4, 2025, Justice Dada dismissed a no-case submission filed by the defendants, ruling that the prosecution had established a prima facie case against them and ordering them to open their defence. Mompha subsequently approached the Court of Appeal to challenge the ruling, arguing that the prosecution had failed to establish a prima facie case linking him to the alleged offences. However, the trial court proceeded with the defence case, with Justice Dada noting that filing an appeal remained the defendants' constitutional right.
After the dismissal of the no-case submission, the defence called its witnesses, including Mompha himself, who testified in his own defence. Following the conclusion of evidence, both parties adopted their final written addresses, with the prosecution urging the court to convict the defendants based on the evidence presented, while the defence argued that the prosecution had failed to prove its case beyond reasonable doubt.
Mompha, a social media celebrity known for flaunting a luxury lifestyle, has been one of the most high-profile defendants prosecuted by the EFCC in recent years. He was first arrested in 2019 by the EFCC over allegations of fraud and money laundering. He was granted bail but was rearrested in 2022 over fresh charges linked to his company. The trial has been marked by several adjournments and legal manoeuvres, including Mompha's previous attempt to have the charges quashed. The case has also drawn attention to Mompha's associates; in January 2026, the EFCC arraigned Sarumi Babafemi, an associate of Mompha, alongside three companies over an alleged N206 million fraud. Babafemi was accused of conspiring with Mompha and two others, who are still at large, to conceal the origin of funds and transfer the proceeds of unlawful activities.
With judgment now reserved until October 15, 2026, both the prosecution and defence will await Justice Dada's ruling, which will determine the fate of the social media celebrity and his company. If convicted, Mompha faces a prison sentence of up to two years or a fine of not less than five million naira, or both, under the provisions of the Money Laundering (Prohibition) Act. The judgment is also expected to have wider implications for the fight against money laundering and financial crimes in Nigeria, as the case has been closely followed by anti-corruption advocates and the public. The court has adjourned the matter to October 15, 2026, for judgment.
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