On Monday, the Ikeja Special Offences Court reduced from N200 million to N25 million the bail sum for social media celebrity Ismaila ‘Mompha’ Mustapha.

Justice Mojisola Dada ruled following a prayer by defence counsel, Gboyega Oyewole, and submission by the prosecution counsel, Rotimi Oyedepo.

Mrs Dada had on January 18 granted Mompha bail in the sum of N200 million and two sureties.

However, on Monday, she held: “The defendant is admitted to a 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 the perfection of the bail conditions.

“Defence counsel should also write an undertaking to that effect.”

Earlier, Mr Oyewole tendered an application supported by a 13-paragraph affidavit to pray the court to lessen the bail conditions.

The counsel said that the defendant had been on bail on a 22-count-charge before the Federal High Court and did not jump bail.

Responding, Mr Oyedepo told the court that he was aware of the application and would leave it at the court’s discretion.

The case was initially scheduled for trial.

Mompha and his company, Ismalob Global Investment Ltd., were arraigned on an eight-count charge by the Economic and Financial Crimes Commission on January 12.

The charges include conspiracy to launder funds obtained through unlawful activity and laundering of funds obtained through unlawful activity.

Other charges include retention of proceeds of criminal conduct, use of property derived from an unlawful act, possession of a document containing false pretence and failure to disclose assets and property.

The court adjourned the case until April 6 for a progress report on the perfection of bail conditions. 

(NAN)