by George Ozalla
Chibuike Echem, Chief Executive Officer of Bondpay and a prominent Abuja socialite, along with his alleged associate, Alhaji Danjuma Mohammed, will spend additional days in Suleja Prison after a Federal Capital Territory High Court rejected their bail application in a N2.5 billion contract fraud case.
The two men were arraigned before the Zuba Division of the FCT High Court on a 55-count indictment brought by the Economic and Financial Crimes Commission. The charges include advance fee fraud, forgery, and criminal conspiracy linked to contracts purportedly awarded by the North East Development Commission (NEDC). The prosecution alleges that Echem and Danjuma, between May 2022 and February 2024, defrauded the managing director of Diamond Leeds Limited of over N2.2 billion. They allegedly presented forged documents to secure lucrative infrastructure and equipment contracts that were never executed. Additional funds were reportedly collected through bank accounts linked to Echem under the guise of legitimate business dealings.
Both defendants pleaded not guilty to the charges when they were read in court. The defence requested bail, citing personal and professional reasons, but the prosecution opposed the application. The court, agreeing with the prosecution that the case was not ready for bail and that procedural requirements had not been satisfied, refused the application and remanded both men at Suleja Correctional Centre. A further hearing was scheduled for late March, when the prosecution is expected to begin presenting its witnesses, and the defence may seek to renew the bail application.
The EFCC stated that seven witnesses have been lined up to testify, emphasizing the seriousness with which the agency is pursuing accountability in high-value contract awards. Legal representatives for the complainant company confirmed that their internal investigations uncovered multiple fraudulent documents and false representations connected to the contracts.
This case forms part of a broader anti-corruption campaign targeting alleged contract fraud and financial crimes in Nigeria. Authorities have reiterated their commitment to ensuring that high-profile individuals implicated in fraudulent activities are brought to justice.
