EFCC Arrests Kolawole Over N993m Fraud in Ilorin

The Economic and Financial Crimes Commission (EFCC) arrested Kofoworola Motunrayo Kolawole, a representative of DKK Partners Limited, in Ilorin for alleged fraud amounting to N993,247,796.70. Kolawole, 37, from Ondo State, initially failed to honor a summons but later turned herself in and is currently in custody following a court order.

The arrest followed a petition submitted to the EFCC, which indicated that Kolawole, alongside company director Duru Ogadima and Talukd Muham Khalidur Rahman, engaged in fraudulent activities by obtaining funds under the pretext of facilitating foreign exchange transactions. The EFCC's preliminary investigation revealed that the suspect allegedly received funds into a bank account instead of executing the agreed transactions to convert the money into digital currency, diverting it for personal use.

DKK Partners Limited is not licensed by the Central Bank of Nigeria to engage in financial transactions, contrary to representations made in the petition. Kolawole is expected to be arraigned in court upon the conclusion of ongoing investigations.