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| Sarumi Samusudeen Babafemi. |
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, on Tuesday, January 20, 2026, arraigned one Sarumi Samusudeen Babafemi for an alleged N206,000,000 (Two Hundred and Six Million Naira) fraud before Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos.
Babafemi alongside his companies, 606 Autos Limited, 606
Music Limited, and Splash Off Entertainment Limited, were arraigned on a
five-count charge bordering on conspiracy, concealment, and transfer of
proceeds of crime to the tune of N206,000,000 (Two Hundred and Six Million
Naira), contrary to Section 332(1) of the Criminal Law of Lagos State, 2011,
and punishable under Section 332(3) of the same law.
Count one reads:
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| Mompha. |
"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".
Count two reads:
"That you, SARUMI SAMUSIDEEN BABAFEMI, while being the
Managing Director and Chief Executive Officer of 606 Autos Limited, 606 Music
Limited and Splash Off Entertainment Limited, sometime between 2015 and 2018 in
Lagos, within the jurisdiction of this Honourable Court, used your company's
accounts to conceal the origin of funds and thereafter transferred the sum of
N93,000 000.00 (Ninety three Million Naira) to one Olanrewaju Ibrahim Oriyomi,
which you knew or reasonably ought to have known that such fund forms part of
an unlawful act".
The defendant pleaded “not guilty” to the charges preferred
against him when they were read to him
In view of the defendant’s “not guilty” “plea,
prosecution counsel, Ayanfe Ogunsina, asked the court to fix a date for
the commencement of trial and also prayed that the defendant be remanded
at a Correctional centre.
However, defence counsel, Kunle Adegoke, SAN, informed
the court that he had only received the charge the previous day and had worked
overnight to prepare an application for bail, which was already in
process.
He, therefore, urged the court to release the defendant to
him, assuring the court that he would produce him 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 on the next adjourned date.
The matter was adjourned till March 24, 2026, for the
commencement of trial.
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