Ilorin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, has arrested a company representative, Kofoworola Motunrayo Kolawole, over an alleged fraud to the tune of N993,247,796.70 (Nine Hundred and Ninety-Three Million, Two Hundred and Forty-Seven Thousand, Seven Hundred and Ninety-Six Naira, Seventy Kobo).
Kolawole, 37, a native of Ondo State, who initially failed to honour several invitations by the Commission, later turned herself in and is currently in custody following a court-ordered remand.
Her arrest was sequel to a petition submitted to the Commission by Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank.
The petitioner alleged that Kolawole, alongside the company directors – Duru Ogadima, Talukder Muhammed Khalidur Rahman (both currently at large) and their firm, DKK Partners Limited, fraudulently obtained the said sum under the pretext of facilitating a foreign exchange transaction.
The funds were allegedly received on November 25, 2025, with the understanding that the dollar equivalent of $675,219.44 (Six Hundred and Seventy-Five Thousand, Two Hundred and Nineteen United States Dollars, Forty-Four Cents) would be remitted.
Preliminary investigations by the EFCC revealed that the suspect allegedly received the funds through a Providus Bank account and, instead of executing the agreed transaction, converted the money into digital currency and diverted it for personal use.
Further findings indicated that DKK Partners Limited is not licensed by the Central Bank of Nigeria to engage in such financial transactions, contrary to representations made to the petitioner.
The suspect will be arraigned in court upon the conclusion of ongoing investigations.
