By Adesakin Adefemi
The Economic and Financial Crimes Commission (EFCC) has arraigned Sarumi Samusudeen Babafemi, an associate of internet celebrity Ismail Mustapha, also known as Mompha, alongside his companies 606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited, for an alleged N206 million fraud.
The arraignment took place before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Tuesday, January 20, 2026. Babafemi and his companies face a five-count charge bordering on conspiracy, concealment, and transfer of proceeds of crime.
According to the EFCC, the alleged offences occurred between 2013 and 2018, with Babafemi using his companies to conceal the origin of funds and transferring large sums to individuals, including Omojadesola Shittu Allison and Olanrewaju Ibrahim Oriyomi.
The charges allege that Babafemi conspired with Mompha, Ridwan Momodu Allison (a.k.a Osama), and Richard Ugbah to launder the funds. The prosecution claims the transactions were part of an unlawful act, violating Section 332(1) of the Criminal Law of Lagos State, 2011.
Babafemi pleaded “not guilty” to the charges, prompting prosecution counsel Ayanfe Ogunsina to request a trial date and remand the defendant in a correctional centre.
However, defence counsel Kunle Adegoke, SAN, successfully applied for bail, assuring the court that Babafemi would be produced on the next adjourned date. Justice Oshodi granted the application, releasing Babafemi to his counsel upon filing an affidavit of undertaking.
The matter has been adjourned till March 24, 2026, for the commencement of trial. The EFCC’s action is part of its ongoing efforts to combat financial crimes in Nigeria.
