The Economic and Financial Crimes Commission has offered reasons for the arrest of Instagram celebrity, Ismaila Mustapha, popularly known as Mompha.
The EFCC said Mompha was arrested at the Nnamdi Azikiwe International Airport, Abuja over allegations of fraud.
In a statement by its spokesman, Wilson Uwujaren, Mompha only used his Bureau De Change business as cover up for his alleged nefarious activities.
He was said to be in possession of five wrist watches worth N20 million.
The statement said: “The EFCC, Lagos Zonal office, has arrested a social media celebrity, Ismaila Mustapha popularly known as Mompha for 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, United Arab Emirates following series of actionable intelligence reports linking him to organised transnational cyber fraud and money laundering.
“Ismaila allegedly perpetrates his fraudulent activities under the cover of being a Bureau de Change operator, to launder his proceeds of crime. However, the suspect has volunteered useful information while investigation continues.
“At the point of arrest, five wristwatches with a total value of over N20m were recovered from him. The suspect will be charged to court as soon as investigation is concluded.”
