The EFCC followed a trail of transactions and rising suspicion in Ilorin.
At the centre, they examined ₦993,247,796.70 tied to a disputed forex transaction.
The EFCC said the funds were meant for a $675,219.44 forex deal.
EFCC Ilorin Investigation Begins
On November 25, 2025, actors moved the money through a Providus Bank account.
However, expectations were clear, yet the outcome did not match the agreement.
Instead, investigators found that suspects diverted the funds into digital currency.
Consequently, this discrepancy triggered a petition from Predictus Remit Limited.
Moreover, the petition prompted EFCC operatives in Ilorin to launch an investigation.
Following the inquiry, officers arrested 37-year-old company representative, Kolawole.
In addition, the EFCC disclosed the arrest on its verified X account.
The Commission stated that it is investigating Kolawole over the alleged fraud.
Wider Fraud Patterns
Similarly, the EFCC has handled many fraud cases across the country.
Earlier in March, officers arrested Mbah Sophina over an alleged ₦19 million fraud.
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The case also involved €8,370 linked to a Certificate of Sponsorship scheme.
In that case, a victim met the suspect on TikTok in 2024.
She allegedly promised UK relocation as an Assistant Psychologist in Glasgow.
As a result, the victim paid fees, yet the sponsorship never materialised.
Recovery And Restitution Efforts
Meanwhile, the EFCC continues to recover and return funds to victims.
Earlier this month, the Commission returned $225,895 and ₦62,790,000 to victims abroad.
The funds reached victims in the United States and South Africa.
On March 19, the EFCC handed over ₦3.9 billion to NNPCL.
The Commission presented the funds at its headquarters in Abuja.
This followed investigations that uncovered fraudulent dealings by several actors.
Overall, each case follows a pattern of promise, loss, and investigation.
