Auto dealer arraigned for laundering N207m

An automobile dealer, Sarumi Babafemi, also known as 606, has been arraigned before a Federal High Court sitting in Lagos by the Economic and Financial Crimes Commission (EFCC) for allegedly laundering N207.1 million between 2013 and 2018.

Babafemi, alongside his companies – 606 Autos Limited; 606 Music Limited; and Splash Off Entertainment Limited – was arraigned on five counts before Justice Chukwujeku Aneke.

He was accused of transferring N37.6m to one Omojadesola Allison; N93m to one Olanrewaju Oriyomi; N1.5m to one Abiola Ayorinde, alias ABK; N25m to one Bartholomew Ezeudoka; and N50m to one Amobi Uchenna.

According to the EFCC, Babafemi “ought to have reasonably known that such funds form part of an unlawful act, to wit: obtaining money by false pretence.”

The prosecuting counsel for the EFCC, Mr A.B.C. Ozioko, insisted that Babafemi and his companies acted contrary to Section 15(2)(b) of the Money Laundering (Prohibition) Act 2011 (as amended) and were liable to be punished under Section 15(3) of the same Act.

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Babafemi and his companies, however, pleaded not guilty when the charges were read to them.

His Counsel, Dr Muiz Banire (SAN), told Justice Aneke that he had filed an application for his client’s bail and served it on the prosecution, urging the court to grant bail to his client in liberal terms.

The prosecution counsel, Ozioko, opposed the bail application, urging Aneke to decline the bail application based on the defendant’s antecedents.

According to Ozioko, the charges against Babafemi were informed by intelligence from the American Federal Bureau of Intelligence, adding that there was another charge against him pending before another court.

Justice Aneke, while adjourning till November 4, 2019 to rule on the bail application, ordered that the accused be remanded in correctional facility.

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