The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arrested 37-year-old Kofoworola Motunrayo Kolawole for her alleged involvement in a massive fraud scheme totaling over N993 million.
According to a statement released by the anti-graft agency, the arrest followed a petition from Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank.
The petitioner claims that Kolawole, acting alongside her company directors and their firm, DKK Partners Limited, fraudulently obtained the sum of N993,247,796.70 under the guise of facilitating a foreign exchange (FX) transaction on November 25, 2025. The suspects were expected to remit the Dollar equivalent of $675,219.44. The funds were allegedly never remitted as agreed.
Preliminary findings by the EFCC reveal a sophisticated attempt to hide the paper trail:
The funds were tracked to a Providus Bank account. Rather than fulfilling the FX contract, the suspects allegedly converted the money into digital currency (cryptocurrency).
The assets were then diverted for personal use.
While Kofoworola Motunrayo Kolawole is currently in custody, her associates—identified as Duru Ogadima and Talukder Muhammed Khalidur Rahman remain at large.
The EFCC has intensified efforts to track down the fleeing directors. The EFCC continues to urge members of the public to exercise extreme caution when engaging in high-value foreign exchange transactions with private firms.
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