LAGOS, Nigeria – The Economic and Financial Crime Commission (EFCC) Lagos Zonal office, has confirmed the arrest of Nigerian Instagram ‘Money Man’, Ismaila Mustapha also known as Mompha.
OgeneAfrican had yesterday reported that EFCC picked up ‘Instagram money man’ Mompha in Abuja according tipsters.
Read it here: EFCC picks up ‘Instagram money man’ Mompha in Abuja
Confirming the arrest in a statement posted on its official Instagram account, EFCC, Lagos Zonal Office states the reason for the arrest and what he will be arraigned.
The post read thus:
“The EFCC, Lagos Zonal office, has arrested a renowned Social Media celebrity, Ismaila Mustapha popularly known as Mompha for an alleged involvement in internet related fraud and money laundering.
The suspect was arrested on Friday 18, October 2019 at the Nnamdi Azikiwe International Airport, Abuja on his way to Dubai Emirate following series of intelligence reports received by the Commission.
According to the EFCC operatives, “actionable cross border intelligence received from collaborative law enforcement agencies about his alleged involvement in the criminal activities further strengthened our suspicion”.
Ismaila allegedly perpetrates his fraudulent activities under the guise of being a Bureau de Change operator.
Investigations have also revealed that Ismaila is only using the BDC business, he jointly owned with his siblings, as a decoy to launder his proceeds of crime.
However, the suspect has volunteered useful information to the operatives and has admitted to be reasonably involved in the first two cases he was alleged to be involved.
At the point of arrest, five wristwatches with a total worth of over Twenty Million Naira (N20, 000, 000: 00) was recovered from him. The suspect will soon be charged to court as soon as investigation is concluded.”