Fresh Twist In ₦6 Billion Trial: Court Reserves Verdict On Mompha

Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja has fixed October 15, 2026, for judgment in the alleged ₦6 billion money laundering case involving social media personality, Ismaila Mustapha, popularly known as Mompha.....KINDLY READ THE FULL STORY HERE▶

The case was instituted by the Economic and Financial Crimes Commission (EFCC), which arraigned Mompha and his company, Ismalob Global Investment Limited, on January 12, 2022.

The anti-graft agency charged the defendant on an eight-count information alleging conspiracy to launder funds suspected to be proceeds of unlawful activities, retention of illicit funds, failure to disclose assets and possession of documents containing false pretences, among other offences.

After the conclusion of proceedings, Justice Dada reserved judgment, with the court expected to deliver its verdict on October 15, 2026.

Meanwhile, the EFCC’s Lagos Zonal Directorate 1 has filed a separate case against Sarumi Samusudeen Babafemi over an alleged ₦206 million fraud.

Babafemi was arraigned on Tuesday before Justice Rahman Oshodi of the Lagos State Special Offences Court sitting in Ikeja alongside three companies—606 Autos Limited, 606 Music Limited and Splash Off Entertainment Limited.

According to the EFCC, the defendants are facing a five-count charge involving alleged conspiracy, concealment and transfer of proceeds of crime amounting to ₦206 million, contrary to the provisions of the Criminal Law of Lagos State, 2011.

The commission further alleged that Babafemi is an associate of Mompha, who remains on trial in the ongoing high-profile money laundering case before the Lagos court.

Both defendants are entitled to the presumption of innocence unless and until proven guilty by the court.