In 1986, Momodu served the Ooni of Ife, Oba Okunade Sijuwade Olubuse II, managing the Motel Royal Limited owned by the monarch.

Following this, Momodu started a public relations outfit, Celebrities-Goodwill Limited, which managed the accounts of Moshood Abiola, Mike Adenuga, and Hakeem Belo-Osagie.

Momodu was arrested and detained at Alagbon Close in Lagos, after the annulment of the 12 June presidential election by General Ibrahim Babangida.

Momodu managed to escape by masquerading as a farmer through the Seme border into Cotonou, in Benin Republic, from where he fled to Togo, Ghana and eventually to the United Kingdom.

The Red Carol is held every December, and has become one of West Africa's most popular annual Christmas events, often involving musical performances, drama, fashion shows and award presentations for varying charitable causes.

In 2013, former president of Ghana J. J. Rawlings attended, with Wyclef Jean as the headline act, along with many other international performers, including MI, Ice Prince and Burna Boy from Nigeria.

The 2016 show was held in Lagos at Eko Hotel & Suites, with Ovation presenter Daala Oruwari and actor Richard Mofe Damijo serving as co-hosts.

Korede Bello, Flavour N'abania, Reekado Banks, King Sunny Ade and Simi all performed at the Globacom-sponsored event, and was attended by Ghanaian President John Dramani Mahama.

The 2017 show featured performances from Tiwa Savage, 2baba, Davido, Sinach, Sammie Okposo, D'banj, DJ Cuppy, Banky W, Sir Shina Peters and Ebenezer Obey, and was attended by guests including Femi Otedola and Aliko Dangote.

The 2018 edition, sponsored by the Esther Ajayi Foundation, featured an all-star lineup including Burna Boy, Adekunle Gold, Mr Eazi, Falz, DJ Cuppy, Teni, Mayorkun, Yinka Ayefele, Sinach, Sammie Okposo and more.

Momodu officially indicated his interest to run for the position of president of the federal republic of Nigeria under the Labour Party, during the 2011 presidential election cycle in September 2010.