EFCC nabs company staff over alleged N993m forex fraud
The Economic and Financial Crimes Commission (EFCC) has arrested a company representative, Kofoworola Kolawole, over an alleged N993,247,796.70 fraud in Ilorin, Kwara State.
Kolawole, 37, was taken into custody by the Ilorin Zonal Directorate following a petition submitted by Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank.
The commission disclosed the arrest in a statement posted on its X handle on Monday.
It said: “The arrest of Kolawole, 37, was sequel to a petition submitted to the Commission by Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank.”
The agency alleged that the suspect acted in collaboration with two company directors, Duru Ogadima and Talukder Muhammed Khalidur Rahman, who are currently at large.
It said: “The petitioner alleged that Kolawole, alongside the company directors—Duru Ogadima and Talukder Muhammed Khalidur Rahman (both currently at large)—and their firm, DKK Partners Limited, fraudulently obtained the said sum under the pretext of facilitating a foreign exchange transaction.”
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According to the commission, the funds were received on November 25, 2025, with an agreement that the dollar equivalent of $675,219.44 would be remitted.
The EFCC said preliminary investigations showed the money was channelled through a Providus Bank account before being converted into digital currency and diverted.
The case highlights growing concerns over forex- and cryptocurrency-related fraud targeting financial institutions in Nigeria.
