 The Economic and Financial Crimes Commission, EFCC, has arraigned Ismaila Mustafa, also known as MAMFA, and his firm Ismailab Global Investment Limited for alleged money laundering to the tune of over six billion naira. MAMFA was arraigned before Justice Mojishola Dada of an Ikeja Special Offences Court on eight counts. Defendants were accused of conspiracy to land off funds obtained through unlawful activity, retention of such funds, transfer of funds for a suspect, or lying kajimo, also known as nappy boy, and unlawful transfer of funds for a record level, among others. The EFCC also alleged that MAMFA concealed his interest in expensive wristwatches and other movable assets valued at over 70 million naira. MAMFA pleaded not guilty to the eight counts while Ismailab Limited, represented by MAMFA, was named in the pleaded not guilty to the first six counts. MAMFA is also standing trial at the Federal High Court in Lagos, alongside Ismailab Global Investment Limited on amended 22 count charge bordering on cyber fraud and money laundering to the tune of 32.9 billion naira brought against him by the EFCC. He pleaded not guilty to each of the counts. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.