EFCC ARRAIGNS MOMPHA’S ASSOCIATE COMPANIES OVER ALLEGED N206M FRAUD IN LAGOS
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By Aishat Momoh. O.
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on Tuesday arraigned a businessman, Sarumi Samusudeen Babafemi, alongside three companies allegedly linked to social media celebrity Ismail Mustapha, popularly known as Mompha, over an alleged N206 million fraud.
Babafemi was arraigned before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on a five-count charge bordering on conspiracy, concealment, and transfer of proceeds of crime.
Also arraigned were his companies, 606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited. The EFCC alleged that the offences contravened Section 332(1) of the Criminal Law of Lagos State, 2011, and are punishable under Section 332(3) of the same law.
According to the EFCC, Babafemi, while serving as the Managing Director and Chief Executive Officer of the companies, allegedly conspired with Ismail Mustapha (Mompha), Ridwan Momodu Allison (also known as Osama), and Richard Ugbah, who are currently at large, to conceal the origin of illicit funds between 2013 and 2018.
One of the charges stated that the defendant allegedly used his companies to conceal and transfer N37.6 million to one Omojadesola Shittu Allison, knowing or having reasonable grounds to know that the funds were proceeds of unlawful activities. Another count alleged that between 2015 and 2018, the defendant transferred N93 million to Olanrewaju Ibrahim Oriyomi under similar circumstances.
Babafemi pleaded not guilty to all the charges.
Following his plea, prosecution counsel Ayanfe Ogunsina urged the court to fix a date for the commencement of trial and requested that the defendant be remanded in a correctional centre. However, defence counsel Kunle Adegoke, SAN, informed the court that he had only received the charge the previous day and had already initiated bail proceedings.
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He appealed to the court to release the defendant to him, assuring that he would be produced on the next adjourned date.
Justice Oshodi granted the request and ordered that the defendant be released to his counsel upon the filing of an affidavit of undertaking to ensure his appearance in court. The case was adjourned until March 24, 2026, for the commencement of trial.
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