The Economic and Financial Crimes Commission (EFCC) has arraigned Sarumi Samusideen Babafemi, an associate of social media celebrity Ismail Mustapha, also known as Mompha, alongside three companies over an alleged N206 million fraud.
The anti-graft agency disclosed this in a statement posted on its official X platform on Tuesday, January 20, 2026.
The arraignment follows ongoing investigations into alleged money laundering activities linked to Mompha and his associates, with transactions said to have occurred between 2013 and 2018.
What they said
According to the EFCC, Babafemi was arraigned before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, alongside 606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited.
The Commission said the defendants 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.
In one of the counts, the EFCC told the court:
“That you, Sarumi Samusideen Babafemi, while being the Managing Director and Chief Executive Officer of 606 Autors Limited, 606 Music Limited, and Splash Off Entertainment Limited, conspired with Ismail Mustapha (a.k.a Mompha) now at large, Ridwan Momodu Allison (a.k.a Osama) now at large and Richard Ugbah sometime between 2013 and 2018 in Lagos, within the jurisdiction of this Honourable Court, used your companies to conceal the origin of funds and thereafter transferred the sum of N37,600,000.00 (Thirty Seven Million, Six Hundred Thousand Naira) to one Omojadesola Shittu Allison, which you knew or reasonably ought to have known that such fund forms part of the proceeds of an unlawful act.”
Another count alleged that Babafemi used his companies’ accounts to conceal and transfer N93,000,000 between 2015 and 2018 to one Olanrewaju Ibrahim Oriyomi, knowing or reasonably expected to know that the funds were proceeds of unlawful activity
The EFCC added that Babafemi pleaded not guilty to all the charges when they were read to him.
Court proceedings
Following the plea, the prosecution counsel, Ayanfe Ogunsina, asked the court to fix a date for the commencement of the trial and requested that the defendant be remanded in a correctional centre.
However, Babafemi’s defence counsel, Kunle Adegoke, SAN, told the court he had only received the charge the previous day and had worked overnight to prepare a bail application, which was already in process. He urged the court to release the defendant to him, assuring that he would be produced on the next adjourned date.
Justice Oshodi granted the application and ordered that Babafemi be released to his counsel upon the filing of an affidavit of undertaking to produce him in court at the next hearing.
The case was adjourned till March 24, 2026, for the commencement of the trial.
What you should know
Ismaila Mustapha, popularly known as Mompha, is one of Nigeria’s most high-profile defendants in EFCC financial crime cases, with a long history of alleged money laundering and related offences dating back several years.
- The Economic and Financial Crimes Commission first arraigned him in late 2019, after intelligence linked him to organised cybercrime and money laundering activities, and items, including wristwatches worth over N20 million, were recovered at the time.
- He faced multiple charges and arraignments, including counts related to laundering large sums of money obtained through unlawful acts.
- In January 2022, Mompha was re-arrested and charged alongside his company on an amended 22-count indictment that also included cyber fraud and money laundering spanning transactions allegedly totalling N32.9 billion.
He was granted bail early in the 2022 proceedings, but his bail was later revoked, and a bench warrant was issued due to his failure to appear in court as required.
In recent court proceedings, a Lagos Special Offences Court rejected a no-case submission from Mompha and his company in November 2025, ruling that the EFCC had provided sufficient evidence for the trial to continue and ordering them to present their defence
