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Mompha Denounces EFCC Over Alleged Link to Fraud Case
Prominent businessman Ismaila Mustapha, popularly known as Mompha, has publicly criticized the Economic and Financial Crimes Commission (EFCC) for implicating him in the prosecution of Sarumi Samusudeen Babafemi. The EFCC had identified Babafemi as an associate of Mompha in its recent statement regarding the case.
Details of the Charges Against Babafemi
The EFCC revealed that Babafemi, along with his companies-606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited-faces a five-count indictment. The charges include conspiracy, concealment, and the transfer of illicit funds amounting to ₦206 million (Two Hundred and Six Million Naira). These allegations violate Section 332(1) of the Lagos State Criminal Law, 2011, with penalties outlined under Section 332(3) of the same statute.
Court Proceedings and Legal Representation
During the hearing before Justice Rahman Oshodi, Babafemi entered a plea of “not guilty.” Following this, the prosecution, led by Ayanfe Ogunsina, requested the court to schedule a trial date and recommended that Babafemi be detained at a correctional facility pending trial.
In response, defense lawyer Kunle Adegoke (SAN) informed the court that he had only received the charges the previous day but had already prepared a bail application overnight. He requested that Babafemi be released into his custody, assuring the court of his client’s appearance at the next hearing.
Justice Oshodi approved the bail request, ordering Babafemi’s release to his counsel upon submission of an affidavit of undertaking to ensure his attendance at the subsequent court date. The trial is now set to commence on March 24, 2026.
Specific Allegations Highlighted in the Charges
“Between 2013 and 2018, Sarumi Samusideen Babafemi, as Managing Director and CEO of 606 Autos Limited, 606 Music Limited, and Splash Off Entertainment Limited, allegedly conspired with Ismail Mustapha (a.k.a Mompha), Ridwan Momodu Allison (a.k.a Osama), and Richard Ugbah to conceal the origin of funds. He is accused of transferring ₦37,600,000 to Omojadesola Shittu Allison, knowing or having reasonable cause to believe the money was proceeds of unlawful activity.”
“Between 2015 and 2018, Babafemi is further accused of using his companies’ accounts to disguise the source of funds and transferring ₦93,000,000 to Olanrewaju Ibrahim Oriyomi, with knowledge or reasonable suspicion that these funds were illicit.”
Mompha’s Response to the EFCC’s Allegations
Reacting to the EFCC’s statement on Instagram, Mompha vehemently rejected any association with the charges against Babafemi. He condemned the EFCC, labeling it as Nigeria’s most “ineffective and corrupt” government agency. His post reflects ongoing tensions between high-profile individuals and anti-corruption bodies in the country.
