The Economic and Financial Crimes Commission (EFCC) says its operatives have arrested a company representative, Kofoworola Motunrayo Kolawole, over an alleged fraud involving N993,247,796.70 in Ilorin, Kwara state.
According to a statement by Dele Oyewale, EFCC spokesperson, Kolawole, 37, who represents DKK Partners Limited, was taken into custody by operatives of the Ilorin zonal directorate of the commission following allegations of fraudulent financial dealings linked to a foreign exchange transaction.
Oyewale said the suspect initially failed to honour several invitations extended to her but later turned herself in, adding that she is currently being held in custody after a court ordered her remand pending further investigation.
The arrest followed a petition submitted by Predictus Remit Limited, a subsidiary of FairMoney Microfinance Bank, which accused Kolawole and the directors of DKK Partners Limited of fraudulently obtaining the sum under the pretext of facilitating a foreign exchange transaction.
The commission identified the directors as Duru Ogadima and Talukder Muhammed Khalidur Rahman, who are currently at large.
According to the petitioner, the funds were transferred on November 25, 2025, with an agreement that the dollar equivalent of $675,219.44 would be remitted. However, the transaction was allegedly not executed as agreed.
Preliminary investigations by the EFCC revealed that the suspect received the funds through an account with Providus Bank but allegedly converted the money into digital currency and diverted it for personal use.
Further findings showed that DKK Partners Limited is not licensed by the Central Bank of Nigeria (CBN) to carry out foreign exchange transactions, contrary to claims made to the petitioner.
The EFCC said Kolawole will be arraigned in court upon the conclusion of ongoing investigations.
