The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission has arrested Kofoworola Kolawole over an alleged fraud totaling N993,247,796.70 in Ilorin.
Kolawole, 37, was taken into custody following a petition filed by Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank. The agency confirmed the arrest in a statement shared on its official X (formerly Twitter) account.
According to investigators, Kolawole allegedly conspired with two company directors—Duru Ogadima and Talukder Muhammed Khalidur Rahman—who are currently at large, along with their firm, DKK Partners Limited.
Authorities claim the suspects fraudulently obtained the funds under the pretense of facilitating a foreign exchange transaction. The money was reportedly received on November 25, 2025, with an agreement to remit the dollar equivalent of $675,219.44.
Preliminary findings indicate the funds were paid into an account with Providus Bank, after which they were allegedly converted into cryptocurrency and diverted for personal use.
The EFCC noted that the case highlights a growing pattern of complex forex and cryptocurrency-related scams targeting financial institutions and their subsidiaries across Nigeria.
