The Ikeja Special Offences Court has reduced the bail sum of Ismaila Mustapha, an Instagram influencer, popularly known as Mompha, from N200 million to N25 million.

The judge made an order reducing the sum on Monday. Mompha alongside his company, Ismalob Global Investment Limited is being prosecuted by the Economic and Financial Crime Commission (EFCC) for alleged N6 billion fraud.

Recall Nairametrics reported on January 18, that Justice Mojisola Dada granted Mompha bail in the sum of N200 million.

What happened in court

After granting him bail, the judge also ordered him to provide two sureties in the like sum.

At the resumed hearing, the defence counsel Mr Gboyega Oyewole (SAN) prayed the court to reduce the bail sum.

In her ruling Justice Dada held that, “The defendant is admitted to bail of N25 million with two sureties in like sum. One of the sureties must have a landed property worth N50 million within the court’s jurisdiction.”

“The defendant shall be temporarily released to defence counsel only for two weeks pending perfection of the bail conditions. Defence counsel should also write an undertaking to that effect,” she ruled.

Details soon…

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