EFCC Makes U Turn, After Media Publicize Illegal Detention of Mompha

Court Reporters had reported a suit of an abuse of fundamental human right instituted by a businessman, Ismaila Mustapha, also known as Mompha against the Economic and Financial Crimes Commission, EFCC, over his illegal detention.

In the suit filed by his lawyers, Mr. Gboyega Oyewole (SAN), before a Lagos High Court for detaining him beyond the constitutionally stipulated days, Mustapha is demanding the sum of five million naira as damages from the EFCC.

He emphasised that his continuous and further detention by the EFCC on the basis of the remand order granted on October 22, by Court 6 of Ikeja Magistrate Court, vie a request for remand pursuant to the Administration Of Criminal Justice Act (ACJA) and which elapsed and expired on November 4, without being charged and arraigned before a court of competent jurisdiction is unlawful.

Read previous report; http://topcourtnewsng.com/right-abuse-businessman-seek-freedom-from-efcc-detention/

In a swift turn after 24hrs that the story went viral, EFCC, filed a N33billion money laundering charges against Ismaila Mustapha.

According to the EFCC, Mompha will be arraigned on 14 counts charge before Justice Mohammad Liman of the Federal High Court, Ikoyi.

The charge against the defendant was filed on November 20, through its counsel, Mr Rotimi Oyedepo.

The charge, signed by Oyedepo, alleged that Mompha laundered the funds through a firm, Ismalob Global Investment Ltd, between 2015 and 2018.

Islamob Global Investments is the second defendant in the charge.

The EFCC claimed that the funds, domiciled in Fidelity Bank, were moved in tranches of N18,059,353,413 billion and N14,946,773,393.00 billion.

The commission further alleged that both defendants, not being a financial institution, or an authorized foreign exchange dealer, negotiated a foreign exchange transaction in the sum of N9.416million, N20 million, N10,437,400.00, N10miillion, N2.46million, N10miillion, N100million, N61million, N100million, N40.7million and N42million.

The funds were domiciled in the defendants’ Fidelity Bank account.

The commission alleged that Mompha “between 2015 and 2018… procured Ismalob Global Investment Ltd to retain the aggregate sum of N18,059,353,413 in its account No. 5260000846 domiciled in Fidelity Bank Plc which sum he reasonably ought to have known formed part of the proceeds of unlawful act to wit: fraud.

Mompha, between 2015 and 2017, also allegedly aided the company “to retain the aggregate sum of N 14,946,773,393.00 in its account No. 5260000846 domiciled in Fidelity Bank Plc from Pitacalize Ltd.

Both actions contravene Sections 18(3) and 15(2)(d) of the Money Laundering Prohibition Act.2011 as amended and punishable under section 15 (3) of the same Act, the agency said.

The other charges read: “That you Ismaila Mustapha and lsrnalob Global Investments Limited, on or about the 17th day of December, 2015, not being an authorized seller appointed by the Central Bank of Nigeria pursuant, negotiated a foreign exchange transaction in the sum of N9,416.700.00
(Nine Million Four Hundred and Sixteen Thousand Seven Hundred Naira) with Mr. lkechukwu Kingsley Onuzulike.

“That you Ismaila Mustapha and lsmalob Global Investments Limited, on or about the 17th of December, 2015, not being an authorized seller appointed by the Central Bank of Nigeria pursuant to Section 5(1) of Foreign Exchange Monitoring and Miscellaneous (Provisions) Act CAP F34 LFN 2004 negotiated a foreign exchange transaction in the sum of N 20 million… ”

“That you Ismaila Mustapha and lsmalob Global Investments Limited, on or about the 21st December, 2015, negotiated a foreign exchange transaction in the sum of N10,437,400.00 with Mr. lkechukwu Kingsley Onuzulike.

“That you Ismaila Mustapha and lsmalob Global Investments Limited, on or about the 23rd day of December, 2015, not being an authorized seller appointed by the Central Bank of Nigeria, negotiated a foreign exchange transaction in the sum of N10,000,000.00 with Mr. lkechukwu Kingsley Onuzulike.”

The defendants also “on or about the 4th day of January, 2016, without authorisation, negotiated a foreign exchange transaction in the sum of N2,463,800.00.

They also allegedly negotiated a foreign exchange transaction in the sum of N10,000,000.00, with Mr. Ojei Osemeke contrary to the law.

In another instance, they were said to have negotiated a foreign exchange transaction in the sum of N100,000,000.00 (One Hundred Million Naira) and N61,080,000.00 (Sixty One Million, Eighty Thousand Naira) with Mr. Okafor lkenna contrary to the law.

They did same with in the sums of N40,700.000.00 (Forty Million Seven Hundred Thousand Naira) and N42,100.000.00 (Forty Two Million, One Hundred Thousand Naira) with IK Tony Global Communications