In a major development in one of Nigeria’s most talked-about fraud cases, Justice Mojisola Dada of the Lagos State Special Offences Court, Ikeja, has ruled that a prima facie case has been established against popular socialite and businessman Ismaila Mustapha, better known as Mompha, and his company Ismalob Global Investment Limited.
The ruling, delivered on Tuesday, November 4, was confirmed by the Economic and Financial Crimes Commission (EFCC) via its official X (Twitter) handle. Justice Dada dismissed Mompha’s no-case submission, stating that the EFCC had presented enough evidence for the defendants to open their defence.
“The court finds that a prima facie case has been established against the defendants. They are therefore ordered to open their defence,” Justice Dada declared.
The EFCC accuses Mompha of laundering billions of naira through his company and operating an unlicensed bureau de change. The case, which has been ongoing for years, has seen multiple twists — including his ₦200 million bail, failure to appear in court, and a bench warrant issued for his arrest.
Reports also revealed that over ₦30 billion suspected to be proceeds of crime passed through his account, with evidence from the FBI linking his iPhone to international fund transfers.
Mompha, however, maintains his innocence, claiming the EFCC is persecuting him for publicity. The case has now been adjourned to January 27 and 28, 2026, for continuation.
