EFCC Arraigns Associate of Mompha on N206 Million Fraud and Money Laundering Charges
The Economic and Financial Crimes Commission (EFCC) has formally brought charges against Sarumi Samusideen Babafemi, an associate of social media figure Ismail Mustapha (Mompha), alongside three corporate entities. The arraignment, which underscores the ongoing scrutiny of high-profile financial crime cases, centers on an alleged N206 million fraud. The anti-graft agency announced the development via its official communication channels on Tuesday, January 20, 2026.
Babafemi was presented before Justice Rahman Oshodi at the Special Offences Court in Ikeja, Lagos. The companies named in the five-count charge are 606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited. The charges allege conspiracy, concealment, and transfer of proceeds of crime, contravening Section 332(1) of the Criminal Law of Lagos State, 2011. The prosecution asserts that the illicit transactions occurred between 2013 and 2018, as part of broader investigations into money laundering networks linked to Mompha.
One specific count details that Babafemi, as Managing Director of the implicated companies, allegedly conspired with Mompha and others to conceal the origin of N37.6 million before transferring it to an individual named Omojadesola Shittu Allison. A separate count alleges a similar pattern involving N93 million transferred to Olanrewaju Ibrahim Oriyomi between 2015 and 2018. The prosecution counsel, Ayanfe Ogunsina, requested a trial date and sought the defendant’s remand following his plea.
In response, the defence counsel, Kunle Adegoke (SAN), successfully applied for bail, noting the swift preparation of the application after receiving the charges. Justice Oshodi granted bail, ordering Babafemi’s release to his counsel upon the filing of an affidavit of undertaking to ensure his appearance in court. This case adds another chapter to the legal saga of Mompha, a high-profile defendant in EFCC cases whose own bail was previously revoked. The unfolding proceedings will continue to draw significant public attention, much like discussions surrounding other prominent figures and institutions.
