Dubia-based Nigerian,Ismaila Mustapha a.k.a Mompha trial has been resumed on Wednesday 15 January, it was reported that he hid N32.9bill...
Dubia-based Nigerian,Ismaila Mustapha a.k.a Mompha trial has been resumed on Wednesday 15 January, it was reported that he hid N32.9billion transactions from the Special Control Unit Against Money Laundering(SCUML) for 25 months.
He was accused by EFCC for procuring Ismalob Global Investment Ltd. and retaining in it's account a total sum of N32.9billion between 2015 and 2018.
Mr. Matthew Enu-Obun, an official of the Special Control Unit Against Money Laundering told Justice Mohammad Liman that they had no record of the transaction as it was hidden and not reported.
According to the EFCC, Mompha who is not a financial institution or an authorized foreign exchange dealer, negotiated foreign exchange transactions in the sums of N9.416million, N20million, N10,437,400.00, N10miillion, N2.46million, N10miillion, N100million, N61million, N100million, N40.7million, and N42million.
He also allegedly laundered money made from the transaction in tranches of N18,059,353,413 billion and N14,946,773,393.00 billion, an offense which contravened sections 15(2) and 18(3) of the Money Laundering (Prohibition) Act, 2011 as amended.
The case was adjourned for further hearing till February 26.
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