EFCC Arrests Company Representative Over Alleged N993m Fraud in Ilorin

Ilorin, March 30, 2026

The Economic and Financial Crimes Commission (EFCC), Ilorin Zonal Directorate, has arrested a company representative, Kofoworola Motunrayo Kolawole, over an alleged fraud amounting to N993,247,796.70.

Kolawole, 37, was arrested following a petition submitted to the Commission by Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank.

According to the petitioner, Kolawole, alongside company directors Duru Ogadima and Talukder Muhammed Khalidur Rahman—who are currently at large—and their firm, DKK Partners Limited, allegedly obtained the sum under the pretext of facilitating a foreign exchange transaction.

The funds were reportedly received on November 25, 2025, with an agreement that the dollar equivalent of $675,219.44 would be remitted to the client.

Preliminary investigations by the EFCC revealed that the suspects allegedly received the funds through an account with Providus Bank. However, instead of executing the agreed transaction, they reportedly converted the money into digital currency and diverted it for personal use.

The Commission stated that investigations are ongoing, while efforts are being intensified to apprehend the fleeing suspects and recover the diverted funds.