Justice Mojisola Dada of a Special Offences Court, Lagos has granted an internet celebrity, Ismailia Mustapha popularly known as Mompha, bail of N200 million with two sureties in the like sum.
The trial judge granted his application for bail deposed to by Ademola Adefolaju through his counsel, Gboyega Oyewole (SAN).
In a ruling after listened to argument from both Oyewole and the Economic and Financial Crimes Commission (EFCC) counsel, Rotimi Oyedepo on bail application, Justice Dada ordered that one of two sureties must own property valued at N100million within the jurisdiction.
The court also ordered his remand in the custody of a Correctional Centre of his choice in Lagos pending perfection of his bail conditions while his international passport already submitted is to remain in custody of the court’s registrar.
The EFCC had arraigned Mompha and alongside his firm, Ismalob Global Investment Limited for alleged money laundering to the tune of over N6billion.
He is facing an eight- count charge bordering on the offences of conspiracy and money laundering.
Mompha pleaded not guilty to all the counts charges.
Earlier before the ruling, Oyewole prayed the court to grant his client bail for him to prepare for his defence in his trial before Justice Mohammed Liman of Federal High Court.
The senior lawyer argued that Justice Liman had been transferred out of Lagos but he has been given fiat to continue with the matter, noted that though, no date has been fixed for defendant to open his defence.