Mompha opts to be remanded in Prison after he was slammed with a N200Million Bail

The trial of Nigerian businessman, Ismailia Mustapha, popularly known as Mompha, continued at the Special Offences Court in Ikeja, Lagos today, January 18.

It can be recalled that Mompha was arrested by Operatives of the EFCC, Lagos state command, on Monday, January 10, for allegedly laundering funds obtained through unlawful activities and retention of alleged proceeds of crime, and was first arraigned in court on Thursday morning, January 12.

The internet celebrity is currently standing trial alongside his company, Ismalob Global Investment Limited, on an amended 22-count charge bordering on cyber fraud and money laundering to the tune of N32.9 billion.

During the last hearing, the court ordered that Mompha be kept in the custody of the Economic and Financial Crimes Commission (EFCC) until the hearing of his bail application.

He appeared again in court this mronng for hearing and photos of him in court found it’s way to the internet.

In updated reports, the court granted a bail of N200million to the suspected internet fraudster, with two sureties in the like sum.

The Presiding judge, Justice Dada, granted the application for bail filed through Mompha’s lawyer, Gboyega Oyewole. However, Mompha opted to be remanded at the Ikoyi Correctional Center following his inability to meet the strict bail conditions.