Instagram celebrity, Ismaila Mustapha, popularly known as Mompha, has been granted bail of N200 million by the Justice Mojisola Dada-led Ikeja Special Offences Court on Tuesday.
The Court also requested two sureties, one of which must own a property valued at N100 million within its jurisdiction.
He had filed for bail through his lawyer, Gboyega Oyewole (SAN).
Mompha was re-arrested by the Economic and Financial Crimes Commission on January 10 for laundering funds obtained through unlawful activities and retention of alleged proceeds of crime.
He and his company, Ismalob Global Investment Limited, are standing trial on an amended 22-count charge bordering on cyber fraud and money laundering to the tune of N32.9bn brought against him by the EFCC.
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.