By Nkechi Eze
Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday warned Ismaila Mustapha, popularly known as Ismaila Mustapha, against employing delay tactics in his ongoing alleged N6 billion money laundering trial.
Mustapha is being prosecuted by the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, Ikoyi, alongside his company, Ismalob Global Investment Limited, on an eight-count charge bordering on conspiracy to launder funds obtained through unlawful activities, retention of proceeds of criminal conduct, failure to disclose assets, and possession of documents containing false pretences.
The anti-graft agency had arraigned Mustapha and his firm on January 12, 2022, following allegations that he and an associate, Ahmadu Mohammed, who is currently at large, conspired in 2016 to conduct financial transactions totalling N5,998,884,653.18 with the intent of promoting unlawful activities, including obtaining money by false pretence.
One of the charges stated that Mustapha, Mohammed, and Ismalob Global Investment Limited “conspired amongst yourselves to conduct financial transactions to the tune of N5,998,884,653.18… with the intent of promoting the carrying on of specified unlawful activities, to wit: obtaining by false pretence.”
The defendant pleaded not guilty to the charges, prompting the commencement of a full trial.
During the proceedings, prosecution counsel, S. I. Suleiman, presented five witnesses and tendered several documents, all of which were admitted as evidence before the prosecution closed its case.
Following this, the defence filed a no-case submission, arguing that the EFCC had failed to establish any link between the defendants and the alleged offences.
However, in her ruling delivered on November 4, 2025, Justice Dada held that the prosecution had established a prima facie case against the defendants, dismissed the no-case submission, and ordered Mustapha and his company to open their defence.
At Monday’s resumed hearing, defence counsel, Kolawole Salami, informed the court that the defendants had filed an application seeking leave to appeal the November 4, 2025 ruling, expressing dissatisfaction with the decision and insisting that no prima facie case had been established against them.
Salami told the court that the defendants were confident that the appellate court would overturn the ruling and uphold their no-case submission. He added that they were committed to prosecuting the appeal diligently and urged the court to grant their request in the interest of justice.
In response, prosecution counsel Suleiman opposed the application, noting that the matter had been ongoing since 2021 and adjourned since 2025 specifically for the defence to open its case.
“The case has been ongoing since 2021, and adjourned since 2025 for defence to his case. They had ample time to prepare for defence, but coming to court with such an application today is not proper,” Suleiman argued.
Salami, however, maintained that the application had been filed and served on the prosecution as far back as November 26, 2025.
In her ruling, Justice Dada directed the defence to proceed with its case, acknowledging that filing an appeal was the constitutional right of the defendants but noting that the application could be addressed alongside the trial.
“You are aware of today’s proceedings. You have the right to appeal; it is your constitutional right,” the judge said.
However, the defence counsel told the court he could not present his witness, explaining that the witness was unaware of the hearing date and was currently outside the court’s jurisdiction. He consequently requested another adjournment and assured the court that the witness would be present at the next hearing.
Justice Dada granted the adjournment but warned that the court would not tolerate further delays, describing the adjournment as the “last indulgence.”
The case was subsequently adjourned until April 28, 2026, for continuation of trial.
