Instagram celebrity, Ismaila Mustapha, popularly known as Mompha, has been granted bail in the sum of N200m with two sureties in like sum by the Special Offences Court sitting in Ikeja, Lagos.
Justice Mojisola Dada who granted the bail application of the defendant also ordered that one of the sureties must own property valued at N100 million within the jurisdiction of the court.
The court also ordered the defendant to return his international passport to the custody of the court while ordering his remand in any Correctional Centre of his choice in Lagos pending the perfection of the bail conditions.
There are however reports that Mompha has opted to be remanded at the Ikoyi correctional centre following his inability to meet the bail conditions.
He is facing an eight-count charge of alleged money laundering of over N6 billion before the court.
The case has been adjourned till March 28 and 29, 2022 for trial.