The Economic and Financial Crimes Commission (EFCC) has reported the discovery of over ₦30 billion in the Fidelity Bank account of social media celebrity Ismaila Mustapha, popularly known as Mompha. Currently at large, Mompha is facing charges related to a ₦6 billion money laundering scheme.
Testifying in court, EFCC operative Idi Musa detailed how the commission became aware of Mompha and his company, Ismalob Global Investment Ltd., during an investigation prompted by intelligence from the Federal Bureau of Investigation (FBI). The FBI informed the EFCC that Mompha was involved in cybercrime activities, specifically a scheme referred to as “yahoo yahoo” in Nigeria.
In 2019, the EFCC initiated inquiries, writing to Zenith Bank and Fidelity Bank for account statements related to Mompha and his business. The analysis revealed a staggering inflow of ₦30 billion in his Fidelity Bank account and approximately ₦5 billion in Zenith Bank.
Musa explained that despite claims of operating a Bureau De Change (BDC) business, the investigation indicated that Mompha had been living outside Nigeria. Efforts to contact him proved futile, leading the EFCC to alert Nigerian Immigration Services to apprehend him upon his return.
In October 2019, Mompha fled Nigeria shortly after learning that the EFCC was seeking him. Although he attempted to escape arrest, he boarded a flight before he could be detained.
The court learned that during the investigation, evidence revealed that Mompha’s iPhone was used to send banking details to a UAE phone number, which he had searched for bank swift codes.
The EFCC has classified all seized properties as proceeds of crime, as Mompha failed to declare these assets in his asset declaration form.
The prosecution presented documents, including Mompha’s statement and asset declaration, which were admitted into evidence. The case has been adjourned until October 8 for further proceedings.