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The Ikeja special offences court has granted Mompha, the Instagram celebrity, a bail of N200 million in the case of alleged fraud involving him.
The court also asked him to produce two sureties, one of which must own a property valued at N100 million within its jurisdiction.
The Economic and Financial Crimes Commission (EFCC) had earlier arraigned the socialite for eight fresh charges bordering on alleged money laundering to the tune of over N6 billion.
He was arraigned alongside Ismalob Global Investment Limited, his firm.
But Mompha and his company had pleaded not guilty to the charges and filed for bail through Gboyega Oyewole, his lawyer.
During his trial on Tuesday, Mojisola Dada, the judge, approved the bail request while the case continues.
The judge also ordered that the Instagram celebrity be remanded in the custody of a correctional centre of his choice in Lagos pending the perfection of his bail conditions.
Dada ruled that his international passport, which was earlier submitted, should remain in the custody of the court’s registrar.
This is the second case in which the EFCC is charging Mompha.
Mompha is already facing an amended 22-count bordering on cyberfraud and laundering to the tune of N32.9 billion at the federal high court in Lagos.
The Dubai-based celebrity was re-arrested by operatives of the EFCC on January 10.
He was first arrested on October 19, 2019, at the Nnamdi Azikiwe International Airport in Abuja.
