Exploring Mompha’s Biography, Net Worth and Legal Troubles With The EFCC

Ismaila Mustapha, popularly known as Mompha, is a Nigerian millionaire based in Dubai. He is a social media big boy and an internet celebrity known for his lavish lifestyle. He is the CEO of Mompha Bureau De Change, located in Bankole Street Lagos Island. The internet celebrity inherited this business from his wealthy father, and he also runs his own outfit called Ismalob Global Investments Company, which is equally a bureau de change operator.

Mompha is married with two kids and he never hesitates to show them off on Instagram. He lavishes his wealth on material things and his family. With a net worth of over $15 million, he has drawn celebrities and highly influential people to himself. Mompha was a good friend to Hushpuppi until a rift broke them up. Notably, Mompha has always been in the bad book of the Economic and Financial Crimes Commission (EFCC). He has been arrested severally and charged for money laundering.

Summary of Mompha’s Profile

  • Full name: Ismaila Mustapha
  • Date of birth: 16 June 1979
  • Age: 42 years old
  • Place of birth: Lagos State
  • Education: Government College, Ikorodu, Lagos State
  • Source of income: Bureau De Change
  • Net worth: over $15 million

Mompha Was Born Into a Wealthy Home

The social media celebrity was born on 16th June 1979 in Lagos State, Nigeria. He attended Government Secondary School, Ikorodu. Unfortunately, not much is known about his latter academic life and his childhood. Again, his state of origin is unknown, and the places he had worked before managing the bureau de change company have not been revealed.

Indeed the businessman was born into a wealthy family. His father was the founder of Mompha Bureau De Change, and owned business branches in Nigeria and Dubai. Mompha inherited this and is now running Ismalob Global Investment Company which started its operations in 2015.

What Is the Source of Mompha’s Wealth?

Mompha owns and runs a Bureau DE Change business in Lagos. Coming from a wealthy home, he also inherited a lot from his late father, including Mompha Bureau DE Change. He is currently the CEO of Mompha Bureau DE Change and also owns Islamlob Bureau DE Change. His main source of income is the bureau de change business, and he runs businesses across Dubai, as well as Nigeria. He also has some other sources of income he has refused to reveal to the public.

However, the internet smasher owns limited editions of eight different models of the most expensive cars. Just recently, he bought a Rolls-Royce 2020 Wraith Eagle VIII, which is up to ₦160 million. He also owns several landed properties, including a mansion he bought for his 6-year-old in Dubai.

Why Mompha Was Arrested By The EFCC

The internet celebrity was arrested on 18th October 2019 at Murtala Muhammed International Airport, Lagos, on his way to Dubai. At the point of his arrest by the Economic and Financial Crimes Commission (EFCC), he had five wristwatches worth ₦20 million. Since his first arrest, the internet star has become a usual visitor of the EFCC.

He was arraigned in front of a Federal High Court Lagos on charges of 14 counts bordering on money laundering and internet fraud and for running a foreign exchange company without proper licensing from the Central Bank of Nigeria (CBN). He was arraigned with his firm called Ismalob Global Investment Limited.

Heighlights Of The Charges Against Him

Mompha’s ₦32.9 Billion Money Laundering Trial

During the court proceedings, there were 10 witnesses, including the compliance officer at Fidelity Bank, an official at the Central Bank of Nigeria, and a BDC operator based in Benin city.

The CBN official, Mrs. Anne Ezekannagha, revealed to the court that the firm Ismalob Global Investment is not registered and licensed by the CBN as a bureau de change operator. She added that the requirements for registration and licensing include evidence of incorporation as a limited liability company issued by the Corporate Affairs Commission. And that the licensed company must not have more than $5,000 in its account.

Following the given information, the Fidelity Bank compliance officer affirmed that the business account has Mompha as the sole signatory. He added that he had reported the suspicious transactions to Nigeria Financial Intelligent Unit (NFIU) but didn’t get any directives concerning the account.

Similarly, Ikenna Okafor, a bureau de change operator based in Benin City, confirmed transactions with the company. He said that he had been dealing with Alhaji Ahmadu Mohammed, who pays him with the Ismalob account. He also said that he never met with Mompha until EFCC detained him at Ikoyi. There were other witnesses who equally said one thing or the other about their dealings with Mompha and the BDC company. Meanwhile, the celebrity businessman was granted bail in the tune of ₦100 million with a surety.

The Outcome of the Case

The trial against the internet celeb was brought to an end with the testimony of the last witness, Alhaji Amodu Mohammed. Amodu explains that the company, Ismalob, has three directors and Mompha is one of them. It also has an account, and the internet star is one of the signatories. Moreover, he affirmed that the company was not registered or licensed.

More so, Alhaji Amodu revealed to the court that he is Mompha’s uncle and that the internet star’s father was his brother. Through the confessions of this witness, the court got to know that the celebrity’s father was a wealthy man who owned Mompha Bureau De Change that is well licensed. Finally, he pointed out that the company Ismalob was only a facilitator of bureau de change and does not deal in luxury goods, cars, and jewelry. With this, the EFCC closed the ₦32.9 billion money laundering trial on July 17, 2020, and the court adjourned the trial to October 14, 2020, for the defense to open his case.

On the 14th of October 2020, the internet star, through his lawyer, Gboyega Oyewole, pleaded not guilty and requested a no-case submission. He said that with the prosecutor’s witnesses, it is clear that he is not connected to the money laundering charge against him. The prosecutor rejected his plea and request and informed the court that the 10 witnesses he questioned confirmed that he is guilty of the charges against him. And the court was adjourned to November 18 to decide whether or not a no-case submission will be granted him.

On December 9, 2020, Justice Mohammed Liman called Mompha and his co-defendant to continue with their defense because there are certain things they need to answer from the prosecution’s case. They are currently facing a 22 count charge of money laundering. The court case is not concluded yet and has been on continual adjournment due to one reason or the other.

Is Mompha Free From All Court Charges?

Currently, the internet smasher is not free from all the charges against him. There have been several charges against the celebrity bordering mainly on money laundering. Since his first arrest;

  • He has been arrested several other times by the EFCC and released on bail.
  • He has been charged severally for money laundering, fraud, and other related issues.
  • On 22nd January 2021, he was named by the EFCC on the amended ₦157.1 million fraud, a nine-count charge against Sarumi Babafemi, also known as 606, the MD and CEO of 606 Autos Limited.

Mompha is Happily Married With Kids

Mompha has been married for over nine years, and his marriage is blessed with two kids – a boy and a girl. He is married to a 26-year-old Muslim girl, whom he celebrated on her 26th birthday, on 5th November 2020. On the Instagram post, he appreciated his wife for being there for him through thick and thin. The big boy gave his wife a Richard Millie wristwatch as a birthday gift.

The internet star loves his family without reserve, which can be seen in how he shows them off on Instagram. When his 6-year-old son celebrated his birthday in 2018, he bought an expensive car for him. The same boy owns a mansion in Dubai. The celeb spends his money on his family, cars, landed property, and he never hesitates to show them off on social media. He flies first class with his family and showers them with expensive gifts always.

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