Mompha Missing, But ₦6 Billion Fraud Case Continues in Court

An Economic and Financial Crimes Commission (EFCC) operative, Idi Musa, testified on Monday against Ismaila Mustapha, also known as Mompha, a social media personality accused of laundering ₦6 billion.

Mustapha and his company, Ismalob Global Investment Ltd., face eight counts related to money laundering.

Musa, the sixth witness for the prosecution, detailed how the investigation unfolded after the EFCC received intelligence from the FBI.

This information alleged that Mompha and his company were involved in cybercrime activities, specifically a scam known as “yahoo yahoo” in the USA.

“In 2019, we received intelligence from the FBI regarding the defendants’ cybercrime operations,” Musa stated during the proceedings. “They were part of a syndicate defrauding internet users across borders.”

The investigation involved obtaining and analyzing bank statements from Zenith Bank and Fidelity Bank, revealing substantial inflows totaling ₦35 billion through the defendants’ accounts.

Efforts to contact Mustapha, who claimed involvement in Bureau De Change activities but was found not to reside in Nigeria, were unsuccessful.

The EFCC also liaised with the FBI and Nigerian authorities, including the Central Bank, to pursue the case further.

The trial highlights the international collaboration in combating financial crimes and underscores the extensive investigative efforts by law enforcement agencies to address cyber fraud and money laundering.