N32.9b Hidden Transactions From Government For 25 Months – EFCC Accuses Mompha

Ismaila Mustapha popularly known as mompha resumed trial yesterday for allegedly hiding N32.9B transactions from the Special Control Unit Against Money Laundering (SCUML) for 25 months. Prosecuting witness and staff of the SCUML explained that all the transaction were hidden and not reported.

He was accused of procuring Ismalob Global Investment Ltd. and retaining in its account, an aggregate sum of N32.9 billion between 2015 and 2018 between December 14, 2015 and January 25, 2018.

EFCC published how he (Mompha ) negotiated foreign exchange transactions with being a financial institutions or operating legal foreign exchange dealer .How he moved the money as follows N9.416million
N20million
N10,437,400
N10miillion
N2.46million
N10miillion
N100million
N61million
N100million
N40.7million
N42million.

Money made from the transaction in tranches of N18,059,353,413 billion and N14,946,773,393.00 billion were launderered and it’s an offence which contravened sections 15(2) and 18(3) of the Money Laundering (Prohibition) Act, 2011 as amended.

His case was later adjourned till February 26,2020 for further hearing.

Babatunde

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