Remember that he was recently given bail by an Ikeja Special Offences Court.

The recent remand order follows Mompha and his business, Ismalob Global Investment Ltd., were arraigned by the Economic and Financial Crimes Commission (EFCC) over alleged N6 billion fraud on January 12.

The 8 count charges are conspiracy to launder funds gotten through unlawful activity and laundering of funds obtained through illegal activity. Others are retention of earnings of criminal conduct, usage of residential or commercial property stemmed from crime, belongings of file containing false pretense and failure to disclose assets and properties.

Justice Mojisola Dada, at the resumption of proceedings on Tuesday after hearing the submissions of defence counsel, Gboyega Oyewole and EFCC prosecutor, Rotimi Oyedepo, given Mompha bail in “really strong terms.”

“The applicant is approved bail in the sum of N200 million with 2 sureties in like sum. One of the sureties must have home valued at N100million within the jurisdiction of this honourable court. Both sureties must depose to an affidavit of means to enable the positioning of a lien in their particular checking account, both sureties need to be gainfully utilized and resident within the jurisdiction of this court.

The sureties should supply evidence of tax payment for the previous 3 years. The applicant shall however be remanded in a Correctional Center of his option pending the perfection of his bail,” Justice Dada said. Mompha, after consultation with his legal group decided to be remanded at the Ikoyi Correctional Center. The case was adjourned until March 28, 29 and April 4, 5 and 6 for commencement of trial.