EFCC Arraigns Mompha’s Associate Over Alleged ₦206m Fraud

EFCC Arraigns Mompha’s Associate Over Alleged ₦206m Fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned Sarumi Samusudeen Babafemi, an associate of social media personality Ismaila Mustapha (Mompha), alongside three corporate entities, over an alleged ₦206 million fraud before the Lagos State Special Offences Court, Ikeja.

Babafemi — Managing Director and CEO of 606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited — faces five counts of conspiracy, concealment, and transfer of proceeds of crime, allegedly committed between 2013 and 2018. The EFCC claims the offences involved large sums, including ₦37.6 million and ₦93 million transferred to third parties, with knowledge that the funds were proceeds of unlawful acts.

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When the charges were read, Babafemi pleaded not guilty. His defence lawyer, SAN Kunle Adegoke, filed a bail application, which the court granted, ordering that Babafemi be released to his counsel upon signing an affidavit of undertaking to appear in court. The trial is now scheduled to commence on March 24, 2026.

The EFCC said Babafemi acted in concert with Mompha and other co-accused — Ridwan Momodu Allison (Osama) and Richard Ugbah, who are currently at large — to facilitate the alleged money laundering scheme. This latest prosecution comes as part of broader EFCC efforts to tackle financial crimes and fraud networks linked to high-profile figures in Nigeria.

EFCC Arraigns Mompha’s Associate Over Alleged ₦206m Fraud