EFCC Re-arrests Mompha for Alleged Money Laundering

  • EFCC Recovers N152bn, $386m in 2021

By Hillary Asemota

Operatives of the Lagos Command of the Economic and Financial Crimes Commission (EFCC) on Monday said they have re-arrested a suspected internet fraudster, Ismailia Mustapha aka Mompha for laundering funds obtained through unlawful activities and retention of alleged proceeds of crime.

 Meanwhile, in a statement signed by Mr. Wilson Uwujaren, Spokesperson for the anti-graft agency, he averred that the commission, recovered the aggregate sum of more than N152 billion, more than $386 million, more than £1 million, €156,246.76, 1,723,310.00 Saudi Riyal, 1,900.00 South African Rand, and 1, 400.00 Canadian Dollar between January and December 2021.

EFCC, said Mompha was arrested on Monday, January 10, 2022.

The suspect according to the Commission, said it is currently standing trial alongside his company, Ismalob Global Investment Limited on an amended twenty-two-count charge bordering on cyber fraud and money laundering to the tune of N32.9 billion brought against him by the commission.

It will be recalled that Mompha, had earlier been arrested on October 18, 2019 at Nnamdi Azikiwe International Airport while boarding an Emirates Airline Flight to Dubai by the staff of the Nigeria Immigration Service, following a watch list by the EFCC.

Mompha, is alleged to have used his registered companies to receive illicit funds on behalf of “yahoo-yahoo” boys from across the world in return for commission.

The account of one of his companies, Ismalob Global Investment Limited Bank, a Bureau de Change Company, domiciled in Zenith Bank Plc, was allegedly used to launder funds derived from unlawful activities.

 Investigation has revealed a fraudulent transfer slip of $92, 412, 75 found in the suspect’s IPhone 8 device.

He will soon be charged to court.

On the recoveries made by EFCC in 2021,  EFCC, said, in continuation of the review of its operational activities for 2021 has disclosed that it recovered the aggregate sum of N152, 088,698,751.64, (One Hundred and Fifty-two Billion, Eighty-eight Million, Six Hundred and Ninety-eight Thousand, Seven Hundred and Fifty-one Naira, Sixty-four Kobo), $386,220,202.84 ( Three Hundred and Eighty-six Million, Two Hundred and Twenty Thousand, Two Hundred and Two Dollar, Eighty-four Cent), £1, 182,519.75 ( One Million, One Hundred and Eighty-two Thousand, Five Hundred and Nineteen Pounds,  €156,246.76( One Hundred and Fifty-six Thousand, Two Hundred and Forty-six Euro), 1,723,310.00 Saudi Riyal, 1,900.00 South African Rand, and 1, 400.00 Canadian Dollar between January and December 2021.

The recovery basket also included a digital currency component with 5, 36957319 Bitcoin and 0.09012 Ethereum.

Headquarters Operation dominated the recoveries with N67, 249, 744, 994.89, $375,662,223.59 and £1,151,539.75. It is closely followed by the Lagos Command which led the Naira recoveries with N70, 315,611,260.52, $9,286,497.83 and £21,500.00.

The Kaduna Zonal Command emerged third in terms of Naira recoveries with a total sum of N3, 339,405,723.93 while the Ibadan Zonal Command took the same position in terms of Dollar recoveries to the tune of $387,385.00.

Giving an overview of the performance, the Executive Chairman of the Commission, Abdulrasheed Bawa, explained that the monies included direct and indirect recoveries for the different tiers of government (Federal, State and Local Governments), corporate organizations and individuals (victims of crime) within the year under review. He commended the personnel of the Commission for the performance while urging them to redouble their efforts to ensure that perpetrators of economic and financial crimes are denied the benefit of the proceeds of crime.

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