EFCC arraigns Mompha’s Associate over alleged N206m fraud
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on Tuesday arraigned Sarumi Samusudeen Babafemi before the Special Offences Court sitting in Ikeja, Lagos, over an alleged N206 million fraud.
Babafemi was arraigned alongside his companies—606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited—before Justice Rahman Oshodi on a five-count charge bordering on conspiracy, concealment and transfer of proceeds of crime, contrary to Section 332(1) of the Criminal Law of Lagos State, 2011, and punishable under Section 332(3) of the same law.
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The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on Tuesday arraigned Sarumi Samusudeen Babafemi before the Special Offences Court sitting in Ikeja, Lagos, over an alleged N206 million fraud.
Babafemi was arraigned alongside his companies—606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited—before Justice Rahman Oshodi on a five-count charge bordering on conspiracy, concealment and transfer of proceeds of crime, contrary to Section 332(1) of the Criminal Law of Lagos State, 2011, and punishable under Section 332(3) of the same law.
According to the EFCC, Babafemi, while serving as Managing Director and Chief Executive Officer of the companies, allegedly conspired with Ismail Mustapha, popularly known as Mompha, Ridwan Momodu Allison (a.k.a. Osama), and one Richard Ugbah, who are currently at large, to use the firms to conceal the origin of illicit funds.
One of the charges alleged that between 2013 and 2018, the defendant transferred N37.6 million to Omojadesola Shittu Allison, knowing or having reason to know that the funds were proceeds of unlawful activity. Another count accused him of transferring N93 million to Olanrewaju Ibrahim Oriyomi through the companies’ accounts between 2015 and 2018, also alleged to be proceeds of crime.
Babafemi pleaded not guilty to all the charges when they were read to him.
Following his plea, prosecution counsel, Ayanfe Ogunsina, requested a trial date and urged the court to remand the defendant in a correctional centre. However, defence counsel, Kunle Adegoke, SAN, told the court that he had just received the charges the previous day and had filed an application for bail. He asked the court to release the defendant to him, assuring that he would be produced on the next adjourned date.
In a statement by the EFCC’s Head of Media and Publicity, Dele Oyewale, Justice Oshodi granted the request and ordered that the defendant be released to his counsel upon the filing of an affidavit of undertaking to produce him in court.
The case was adjourned to March 24, 2026, for the commencement of trial.
