The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission has arrested Kofoworola Motunrayo Kolawole, a company representative, over an alleged fraud of N993,247,796.70.
The arrest followed a petition submitted to the Commission by Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank.
According to a statement shared on the EFCC official page, Kolawole, along with company directors Duru Ogadima and Talukder Muhammed Khalidur Rahman, both currently at large, and their firm, DKK Partners Limited, allegedly obtained the money under the pretext of facilitating a foreign exchange transaction.
The statement said the funds, received on November 25, 2025, were meant to be converted into the dollar equivalent of $675,219.44 for remittance.
“The funds were allegedly received on November 25, 2025, with the understanding that the dollar equivalent of $675,219.44 would be remitted,” the statement read.
It further noted that preliminary investigations revealed that instead of completing the transaction, the suspects allegedly converted the funds into digital currency and diverted it for personal use.
