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An internet celebrity, Ismail Mustapha porpularly known as Mompha has regained his freedom from the custody of the Nigerian Correctional facility in Ikoyi, Lagos .
PLATFORM TIMES gathered that the bail was made pending the conclusion of his money laundering trial before a Speial Offences Court, sitting in Ikeja, Lagos.
PLATFORM TIMES further gathered that Mompha was freed shortly after the court presided over by Justice Mojisola Dada upheld the variation of his bail application to N25m with two sureties in like sum from the N200m bail bond earlier granted by the same court when he was arraigned in January.
The Economic and Financial Crimes Commission, EFCC had arraigned him and his company, Ismalab Global Investment Limited on an eight-count charge bordering on alleged conspiracy and money laundering totaling more than N6billion .
According to a source, In January 18, 2022, Mompha was granted bail in the sum of N200m with two sureries in like sum, one of whom must own property valued at N100m within the jurisdiction of the court.
Mompha was also ordered to submit his international passport to the court as a necessary condition to fulfill the bail conditions.
However, his inability to meet his bail conditions caused him to remain in custody.
On Monday, March 28, his counsel, Goboyega Oyewole ,SAN applied for a variation of his bail conditions and informed the court that defendant has submitted his international passport to the fact that Mompha is also standing trial at the federal high court and ,he never missed court for one day .
Oyewole said, “Most important my lord is that defendant wants to engage the prosecution on the charges.”
EFCCS counsel, Rotimi Oyedepo , who acknowledged receipt of the defense application, left the decision to the discretion of the court.
Approving his application for bail variation, Justice Dada granted bail to mompha in the sum of #25 million with two sureties in like sum one of whom must own a property worth #50 million with the jurisdiction of the court .
The case was then adjourned till April 6, 2022 for further hearing.