The Economic and Financial Crimes Commission (EFCC) has arraigned an associate of social media influencer, Ismail Mustapha, also known as Mompha, alongside three companies, before a Lagos court over an alleged N206 million fraud.
The defendant, Sarumi Samusideen Babafemi, was arraigned yesterday with his companies 606 Autos Limited, 606 Music Limited and Splash Off Entertainment Limited before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos.
Babafemi and the companies are facing a five-count charge bordering on conspiracy, concealment and transfer of proceeds of crime amounting to N206 million, 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 three companies, allegedly conspired with Mompha, who is currently at large, Ridwan Momodu Allison, also known as Osama, and Richard Ugbah, to use the companies to conceal the origin of illicit funds between 2013 and 2018.
One of the counts alleged that Babafemi and his alleged co-conspirators transferred the sum of N37.6 million to one Omojadesola Shittu Allison, knowing or having reasonable grounds to know that the funds formed part of the proceeds of an unlawful act.
Another count alleged that between 2015 and 2018, the defendant used the accounts of his companies to conceal the origin of funds and transferred N93 million to one Olanrewaju Ibrahim Oriyomi, also allegedly knowing that the money was derived from unlawful activities.
Babafemi pleaded not guilty to all the charges when they were read to him.
Following the plea, prosecution counsel, Ayanfe Ogunsina, asked 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), told the court that he had received the charge only a day earlier and had worked overnight to prepare a bail application, which was already being processed. He urged the court to release the defendant to him, assuring that Babafemi would be produced in court on the next adjourned date.
Justice Oshodi granted the application and ordered that the defendant be released to his counsel upon the filing of an affidavit of undertaking to produce him in court when required.
The judge adjourned the case until March 24, 2026, for the commencement of trial.
