Business

Company Representative Arrested in N993 Million Foreign Exchange Fraud • EFCC Cracks Down on Ilorin Firm Over

Published

5 months ago

March 30, 2026

Preport

The Ilorin Zonal Directorate of the EFCC has arrested a company representative, Kofoworola Motunrayo Kolawole, over an alleged fraud to the tune of N993,247,796.70 (Nine Hundred and Ninety-Three Million, Two Hundred and Forty-Seven Thousand, Seven Hundred and Ninety-Six Naira, Seventy Kobo).

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 petitioner alleged that Kolawole, alongside the company directors – Duru Ogadima, 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.

The funds were allegedly received on November 25, 2025, with the understanding that the Dollar equivalent of $675,219.44 (Six Hundred and Seventy-Five Thousand, Two Hundred and Nineteen United States Dollars, Forty-Four Cents) would be remitted.

Preliminary investigations by the EFCC revealed that the suspects allegedly received the funds through a Providus Bank account and, instead of executing the agreed transaction, converted the money into digital currency and diverted it for personal use.

The post Company Representative Arrested in N993 Million Foreign Exchange Fraud • EFCC Cracks Down on Ilorin Firm Over appeared first on Business Today NG.

Business

MTN Nigeria’s independent director, Kola-Oyeneyin, to exit board

Published

1 hour ago

August 29, 2026

Preport

WhatsApp Image 2026 08 29 at 13.06.31.jpeg

MTN Nigeria Communications Plc has announced the exit of Eyitope Kola-Oyeneyin, an Independent Non-Executive Director on its board.

MTN Nigeria disclosed this in a statement released on the Nigerian Exchange Limited (NGX) and signed by Uto Ukpanah, the company’s secretary, on Friday.

The telecommunications giant noted that Mrs Kola-Oyeneyin’s exit will take effect from 31 August, although MTN did not state the reason for her exit in the regulatory filing.

She joined the company’s board in December 2024.

The company extolled Mrs Kola-Oyeneyin’s contributions to the board and wished her success in her future endeavours.

“The Board extends its appreciation to Mrs. Kola-Oyeneyin for her invaluable service and wishes her the best in her future endeavours,” the company said.

Profile

Mrs Kola-Oyeneyin is a systems change leader and transformation expert with over 20 years of global experience as a senior adviser, operating executive, and policymaker across multiple African countries.

She is the Managing Partner of Augmentum Advisory, where she advises senior leaders on growth and value creation through digital transformation, policy innovation, and large-scale programme execution.

The outgoing independent director is also experienced in digital financial services and has extensive knowledge of the financial services landscape in Sub-Saharan Africa.

In July, the federal government approved her appointment as Chairperson of the Nigerian Investment Promotion Commission (NIPC).

Mrs Kola-Oyeneyin previously served as Head of First Bank’s International Banking business and as a Partner and inaugural co-lead of McKinsey’s Payments and Fintech Practice for Eastern Europe, the Middle East and Africa.

READ ALSO: MTN warns customers against fake promo

She has worked with players across Africa’s financial services value chain and led the development of initiatives including Cashless Lagos and the Shared Agent Network Expansion Facilities (SANEF) agent banking programme, which contributed to efforts to expand financial inclusion in Nigeria.

MTN Nigeria, which began operations in the country in 2001, is one of Nigeria’s largest telecommunications providers, serving more than 92 million people across the country and operating in 19 markets in Africa.

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Business

Nigeria Records 65,000 Suspected Cholera Cases, Over 10,000 Diphtheria Cases

Published

17 hours ago

August 28, 2026

Preport

Nigeria is facing significant outbreaks of cholera and diphtheria, with more than 65,000 suspected cholera cases recorded across 35 states and about 195 Local Government Areas. More than 10,000 confirmed diphtheria cases have also been reported in 2026.

The Director-General of the Nigeria Centre for Disease Control and Prevention (NCDC), Dr. Jide Idris, disclosed the figures in Abuja while providing an update on the country’s response to both outbreaks.

The NCDC has intensified disease surveillance and deployed National Rapid Response Teams to affected states, including Borno, which has recorded the highest number of cholera cases. Teams are investigating transmission sources and assessing water, sanitation and chlorination gaps.

To control cholera, authorities are bringing treatment closer to affected communities while expanding oral rehydration points, strengthening treatment centres, improving water chlorination and conducting oral cholera vaccination in high-burden areas.

The response to diphtheria is focused on reactive vaccination, early detection and treatment, particularly in Kano, Borno and Bauchi, where cases remain concentrated. Healthcare workers have also been urged to quickly identify, report and manage suspected cases.

The NCDC stressed that federal intervention alone cannot end the outbreaks. States and Local Governments must strengthen immunisation, improve access to safe water and sanitation, repair critical infrastructure and ensure communities have adequate treatment and rapid-response services.

Although declining cholera cases and improved survival rates are encouraging, the NCDC warned against complacency. Communities are advised to use safe water, practise good hygiene, prepare food safely and seek medical attention early. Anyone with frequent watery diarrhoea should begin oral rehydration immediately and visit a health facility, while parents and caregivers should ensure children are fully vaccinated against diphtheria.

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