Mompha is one Nigerian celebrity and currency exchange boss that practically lives on the internet; thus, the billionaire businessman loves to share the details of his personal and professional life with his fans on Instagram. He has been given several names; while some call him the richest Nigerian yahoo boy, others see him as an Instagram billionaire. Whichever may be the case, the Bureau De Change owner is worth around $15 million, which places him in the enviable position of one of the richest currency exchange bosses in the country.
A man who has garnered over $500 million in net worth is expected to spend as big as he earns, and Mompha has never ceased to live up to expectations. The man lives in one of the most expensive houses in Nigeria, and his car collection is nothing short of legendary.
A Peek At Ismaila Mompha’s Net Worth
As earlier mentioned, Mompha’s total net worth is estimated to be around $15 million. This amount includes his mind-boggling fleet of exotic vehicles, his super-expensive jewelry collection, and his real estate acquisitions.
The billionaire businessman presents his currency exchange business as his major source of income; however, the authorities don’t really buy that as they think he is doing a lot undercover. Mompha has been accused of illegal activities like drug trafficking, fraud, and a whole lot more.
Currency Exchange Business
Mompha sits comfortably at the top of the ladder as the richest currency exchange boss in Nigeria. The founder and chief executive officer of Mompha Bureau De Change is believed to have all of his revenue rolling in from the business, located in Lagos State, precisely in Bankole Street, Lagos Island. We don’t know how true it is, but Mompha is also believed to be doing the same kind of business Hushppupi was involved in; this includes drug trafficking and all forms of cyber fraud.
Mompha Spends Big on Cars and Landed Properties
Mompha is one Nigerian big boy that derives a lot of pleasure from splurging around town in exotic automobiles, decking-up in costly apparel and jewelry, as well as flaunting his cash on Instagram, where his fans are always ready and willing to praise him. These Instagram followers also enjoy a lot of giveaways from the businessman, which comes regularly. Little wonder why they are always singing his praises.
The chief executive officer of Mompha Bureau De Change also loves to spend money on luxury mansions. In fact, his house in Lagos is credited to be one of the most expensive celebrity cribs in the country. He also travels abroad a lot; when he is not in Nigerian, the currency exchange boss will be in the United Arab Emirates.
Though he is said to have other real estate investments scattered worldwide, his known abode is the one located in Banana Island Lagos. The Banana shaped settlement is arguably the most expensive spot to buy a property in the whole of Nigeria. It houses only the rich, the mighty, and the famous, describing Ismaila Mompha. The billionaire businessman’s abode is quite luxurious, sporting some really plush amenities, though the market value has not been made public. However, general estimation put the worth of his house within the neighborhood of N800,000,000 million, equivalent to $2.5 Million.
Mompha’s Car Collections
Talking about his car collections, Mompha has a long fleet. In fact, the celebrity businessman’s garage is bursting with exotic automobiles, some of which can only be dreamed of by even moderately rich Nigerians.
Mercedes-Benz G63 AMG
It is common knowledge that the Mercedes brand is a status-boosting brand favored by the very rich, and hardly will you see a celeb that does not own one. The market value for Mercedes-Benz G63 AMG is around ₦53.1 million as of this writing, and needless to say, it is befitting for a big man like Mompha. The car boasts great exterior and interior design, as well as top-notch safety features. It has 22-inch wheels and an AMG-specific radiator grille that guarantees a smooth, jolly, and fun ride.
Lamborghini is another exotic brand that is frequently targeted by the rich. Once a celebrity adds a Lamborghini to his fleet, it instantly elevates his status. Mompha doesn’t just have one Lamborghini brand; he has 2 of them. From his Lamborghini Huracan worth around ₦73.6 million to his Lamborghini Aventador that cost up to ₦151 million, the Nigerian businessman sure spent almost N250 million on just two automobiles. In fact, the cost of his Lamborghini Huracan excludes tax and delivery fees which, when calculated, comes up to a substantial amount.
Mompha’s car powerhouse still extends to include a Rolls Royce Wraith Eagle VIII (2020 model). The super-exclusive car belongs to The Bespoke Collection, with a market worth of $413,000, which is approximately N150 million. The company has only ever produced 50 units of the car. He also owns another Rolls-Royce Wraith (2018 model).
Ferrari 488 Spider
Also gracing Mompha’s fleet is a Ferrari 488 Spider. The exotic automobile is estimated to cost around N90 million in market price.
The Lexus LX is quite an expensive vehicle, but it was easy enough for a billionaire of Mompha’s ilk to gift himself with the car on his 41st birthday. This list is far from exhaustive as the currency exchange boss has others like Bently and Audi R8. Besides, he has a private jet history, though one cannot categorically say if he owns one or not. However, he frequently flies on jets, either alone or with members of his family.
Mompha has proved to have a very high taste in fashion; apart from the expensive apparel he usually appears in, the celeb businessman also loves to brandies expensive jewelry, especially wristwatches. He actually signed his 75th pair of Christian Louboutin (one of the best globally).
In 2019, the Economic and Financial Crime Commission had a course of questioning the source of Ismaila Mompha’s wealth. Consequently, the billionaire businessman fell into the net of the EFCC, where he faced charges of money laundering, fraud, amongst other illegal activities. The money laundering and cyber fraud charges brought against him amounted to the tune of 33 billion. His initial arrest really lacked concrete evidence, which led Nigerians to question the rationale behind his detention.
However, Mompha was re-arrested in 2020 after discovering that he operates a total of 51 bank accounts in Nigeria alone. Reports said these accounts are what he uses as conduits for laundering money. Investigations further revealed that he leveraged Ismalob Global Investment Limited to launder money between 2015 and 2018. Mompha received some funds via his Fidelity bank account, which he moved in batches; The Currency exchange boss first moved N18,059,353,413 and later N14,946,773,393.00. The EFCC also recovered five wristwatches worth around $60 million (initially thought to be worth N20 million), one iPhone, one Apple Airpod, a pair of sunglasses, and a total of eight other mobile phones.
Apart from his money laundering charges, people also believe the man to be neck-deep into drug trafficking. Besides, his currency exchange company was not registered with the rightful authorities, the Special Control Unit Against Money Laundering. His case with the EFCC is still ongoing.
Between Mompha and Hushpuppi, Who is Richer?
Huspuppi has been tagged the richest Nigerian yahoo boy upon his arrest. However, the cybercrime pundit’s net worth of $20 million is above that of currency exchange boss Ismaila Mompha. A recent estimate of Mompha’s net worth, which pegs it at a jaw-dropping $15 million, shows that the bureau de change owner is $5 million less rich than Hushpuppy. However, both are neck-deep into luxurious life, splurging around town in the most expensive car brands, living in luxurious houses, and flaunting the best of apparel and jewelry. In fact, Mompha and Hushpuppi used to be the best of friends before they went their separate ways.