Mompha is charged by the EFCC on 14 counts verging on extortion, tax evasion and maintaining an outside trade business without the authorisation of the Central Bank of Nigeria. He was summoned close by a firm, Ismalob Global Investment Ltd.
He had argued not liable to the charge, and was conceded bail in the total of N100 million with one guarantee in like aggregate.
The EFCC blamed Mustapha for getting Ismalob Global Investment Ltd. what's more, illicitly holding in its record, a total entirety of N32.9 billion from 2015 to 2018.
At the point when the preliminary continued on Friday, EFCC counsel, Mr Rotimi Oyedepo, called the tenth observer, Alhaji Amodu Mohammed.
The observer, who talked incompletely in pidgin English, told the court that the litigant was a chief of the organization Ismalob.
He affirmed that the organization had three overseeing executives including himself and one Danjuma Mohammed.
He told the court that the organization likewise kept up a record to which Mustapha was a signatory.
As indicated by the observer, Ismalob is a Bureau de change (BDC) organization which began business in December 2015.
On whether Ismalob is an authorized BDC, he told the court that it was not authorized by the Central Bank of Nigeria.
Under interrogation by safeguard counsel, Mr Gboyega Oyewole (SAN), the observer told the court that he was Mustapha's uncle.
As indicated by him, Mustaphaa's late dad was his sibling.
He affirmed that Mustapha's late dad was the Founder of Mompha BDC, which, he stated, was an authorized outfit.
He said that until his passing, Mustapha's dad was a fruitful and rich man, including that Mustapha acquired and maintained his dad's business outfits, even those in Dubai, until date. He said that Ismalob did not deal on jewelleries, cars or any luxury goods, but was only a facilitator of BDC.
The court adjourned the trial until Oct. 14 for defence to open its case.
Recall that the EFCC alleged that Mustapha laundered N32.9 billion through Ismalob Global Investment Ltd. from 2015 to 2018.
It alleged that both defendants negotiated foreign exchange transactions in various sums such as N9.4 million, N20 million, N10.4 million, N2.4 million, N100 million, N61 million, N40.7 million and N42 million.
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