Instagram socialite, Ismaila Mustapha popularly known as Mompha, has taken to the platform to share his excitement over the 100 percent increase in value of his Richard Mille watch.

Mompha who shared a screenshot of the new price of his watch disclosed that it increased from 150,000 dollars to 300,000 dollars. He went on to describe it as a “great investment”. He wrote; From $150,000 Before and Now $300,000 what a great investment”.

Following Mompha’s post on social media, some netizens took to the comment section to react to his post. Some who were astonished by the news asked him if he was willing to resell to them. Others also averred that after all these investments that he has, people will still call to say he is into money laundering.

Meanwhile, the Nigerian anti-graft agency, EFCC, has dissociated itself from claims by Mompha, stating he was advised to maintain a low profile in the wake of the indictment of his friend, Hushpuppi in a 1.1 million dollars international fraud conspiracy by US Law enforcement.

According to some reports, Mompha claimed that the anti-graft agency contacted him after Hushpuppi was apprehended abroad.

He further alleged that the EFCC asked him to delete his social media pages and maintain a low profile after the incident. Mompha made the remarks during an Instagram live show with a controversial broadcaster, Daddy Freeze, on Saturday, 31st July.

However, Wilson Uwujaren, the EFCC spokesperson, debunked Mompha’s claims in a statement as he said: ”The (Mompha’s) claim, which did not mention the official of the Commission who supposedly gave the advice, is spurious and should be discountenanced.

”The Commission is not in the business of advising suspected internet fraudsters and it is far-fetched that it would counsel one against whom it has a pending criminal charge in court”.
EFCC

The EFCC spokesperson also added that Mompha and his company, Ismalob Global Investment Limited, are facing prosecution by the EFCC on a 22-count charge alleging various offenses such as retention of proceeds of unlawful activities to wit; fraud, failure to report the transaction to the Commission as required by the provision of the Money Laundering Prohibition Act, 2011 (as amended).

His other offenses according to the EFCC include negotiating foreign exchange without license, contrary to Section 5 and 29 of the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act, 2004; engaging in foreign exchange transaction other than through the official foreign exchange market, contrary to the provision of Section 11(1) (a) of the National Economic Intelligence Establishment Act to the tune of 32 billion Naira.

Mr. Uwujaren said Mompha, who currently lives in Dubai, is still standing trial before A. M. Liman of the Federal High Court sitting in Ikoyi, Lagos.

He said: ”The Commission had called 10 witnesses and closed its case. But rather than enter his defense, Mompha filed a no-case submission which was overruled by the Court and called upon to open his defense”.

It can be recalled that in August 2020 the EFCC released some items they had seized from Mompha following an arrest the previous year. A Federal High Court in Lagos ordered the EFCC to release all items it seized from him. The items included five luxury wristwatches, an Apple iPod, an iPhone 8 device, and a pair of sunglasses, which were among other items found on him when he was arrested on October 19, 2019, in Abuja.

During his interview session with Daddy Freeze, Mompha claimed EFCC unjustly punished him.