EFCC Arrests Company Rep For Alleged N993m Fraud

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

Kolawole’s arrest arose from 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 now 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 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.

The EFCC’s head, Media and Publicity, Dele Oyewale, in a statement, said further findings indicated that DKK Partners Limited is not licensed by the Central Bank of Nigeria to engage in such financial transactions, contrary to the representations made to the petitioner.

He said the suspect would be arraigned in court upon the conclusion of ongoing investigations.