Fraud: EFCC declares Leatherback co-founder, Ibrahim Toyeeb Ibitade, wanted one year after securing $10m funding

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The Economic and Financial Crimes Commission (EFCC) has declared Ibrahim Toyeeb Ibitade, the Co-founder and CEO of UK-based cross-border payment platform Leatherback, wanted.

Head, Media and Publicity of EFCC, Oladele Oyewale disclosed this in a statement on Thursday, November 16.

Oyewale said that Ibitade, 31, is wanted by the anti-graft commission over an alleged case of conspiracy and obtaining money under false pretence.

According to the statement, the suspect hails from Offa Local Government Area of Kwara State, while his last known address is 65, Karimu Kotun Street, Victoria Island, Lagos.

He said that anyone with information about the whereabouts of the suspect should not hesitate to conduct the commission at any of its offices or the nearest police station and other security agencies.

The development comes one year after Ibitade’s Leatherback  “secured its first-ever investment funding of $10 Million which is the largest pre-seed funding by an African-related firm”, according to an April 13, 2022, statement released by the company.

The statement quoted Ibitade as expressing his joy at the pre-seed fund, as the company had since been running on owners’ funds.

“This is the first time we have raised funds externally. It’s a massive step forward that will allow us to take our business and our vision to the next level,” he was quoted as saying.

The Herald could not immediately ascertain if his being declared wanted by the EFCC is connected to the pre-seed fund.

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John is a University of Lagos-trained journalist who has read almost every novel written by Chinua Achebe, Jeffrey Archer and Dan Brown. He's an expert Scrabble and draughts player who is also excellent at swimming.
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