The arrest was carried out by the Ilorin Zonal Directorate of the anti-graft agency following a petition filed by Predictus Remit Limited, a subsidiary of Fairmoney Microfinance Bank.
In a statement, the EFCC alleged that Kolawole, alongside two company directors—Duru Ogadima and Talukder Muhammed Khalidur Rahman, who are currently at large—and their firm, DKK Partners Limited, obtained the funds under the pretext of facilitating a foreign exchange transaction.
According to the Commission, the money, received on November 25, 2025, was meant to be converted into its dollar equivalent of $675,219.44 for remittance.
“The funds were received with the understanding that the dollar equivalent would be remitted,” the EFCC stated.
However, preliminary investigations indicate that the suspects allegedly diverted the funds after converting them into digital currency, rather than completing the transaction as agreed.
The anti-graft agency said investigations are ongoing, while efforts are being intensified to apprehend the fleeing suspects.
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