EFCC Arraigns Mompha’s Associate over Alleged ₦206m Fraud
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on Tuesday, January 20, 2026, arraigned Sarumi Samusudeen Babafemi before Justice Rahman Oshodi of the Special Offences Court, Ikeja, Lagos, over an alleged ₦206 million fraud.
Babafemi was arraigned alongside his companies—606 Autos Limited, 606 Music Limited and Splash Off Entertainment Limited—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 (a.k.a. Mompha), Ridwan Momodu Allison (a.k.a. Osama), both said to be at large, and one Richard Ugbah, between 2013 and 2018, to use the companies to conceal the origin of illicit funds.
One of the counts alleged that the defendant transferred ₦37.6 million to Omojadesola Shittu Allison, while another accused him of transferring ₦93 million to Olanrewaju Ibrahim Oriyomi, knowing or having reasonable grounds to know that the funds were proceeds of unlawful activities.
Babafemi pleaded not guilty to all the charges.
Following his plea, prosecution counsel, Ayanfe Ogunsina, requested a trial date and asked that the defendant be remanded in a correctional facility. However, defence counsel, Kunle Adegoke, SAN, told the court that he had just received the charge a day earlier and had prepared a bail application overnight. He urged the court to release the defendant to him, assuring that he would be produced in court when required.
Justice Oshodi granted the application, ordering that the defendant be released to his counsel upon the filing of an affidavit of undertaking to produce him in court on the next adjourned date.
- The case was adjourned to March 24, 2026, for the commencement of trial.
