The Ikeja Special Offences Court, presided over by Justice Mojisola Dada, granted Ismaila Mustapha, also known as Mompha, bail in the sum of N200 million on Tuesday.
Two sureties were also required by the Court, one of whom had to be the owner of a property worth N100 million or more within its jurisdiction.
He had filed for bail through his lawyer, Gboyega Oyewole (SAN).
On January 10, the Economic and Financial Crimes Commission (EFCC) arrested Mompha for a second time, Gladtune previously reported. Mompha was arrested for laundering funds obtained through unlawful activities as well as retention of alleged proceeds of crime.
The EFCC has filed an amended 22-count charge against him and his company, Ismalob Global Investment Limited, alleging cyber fraud and money laundering to the tune of N32.9 billion. He and his company, Ismalob Global Investment Limited, are currently on trial.