EFCC arraigns bondpay CEO, ex-NEDC official over alleged ₦2.28bn fraud

The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned the Chief Executive Officer of Bondpay, Prince Chibuike Echem, and a former National Coordinator of the Multi-Sectoral Crisis Recovery Project of the North-East Development Commission (NEDC), Danjuma Mohammed, over an alleged ₦2.28 billion advance fee fraud and forgery scheme.

The defendants were brought before Justice Keziah Ogbonnaya of the Federal Capital Territory High Court sitting in Zuba, Abuja, on a 54-count amended charge bordering on conspiracy, obtaining by false pretence, advance fee fraud and forgery. A third suspect, Aminu Alhaji, is currently at large.

According to the EFCC, the alleged offences were committed between 2022 and 2024 and involved the purported defrauding of Diamond Leeds Limited, an indigenous construction and equipment supply company.

Court documents revealed that Echem, listed as the second defendant in charge number CR/708/25, allegedly represented himself as a contract facilitator with access to top officials within government agencies, including the NEDC.

The anti-graft agency alleged that Echem introduced the Chairman of Diamond Leeds, Kenneth Ejiofor Ifekudu, to Danjuma Mohammed, who was portrayed as a highly influential official capable of securing contracts under the NEDC’s North-East intervention programmes.

One of the charges alleged that between May 2022 and February 2024, the defendants conspired to fraudulently obtain ₦2.28 billion from Diamond Leeds under the pretext of facilitating contracts under the NEDC’s Multi-Sectoral Crisis Recovery and Stability Programme, contrary to provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

In a specific count, the EFCC alleged that Echem’s Wema Bank account received a total of ₦573.5 million from Diamond Leeds in 2023, purportedly to execute NEDC contracts—claims investigators say were false.

Despite allegedly issuing Diamond Leeds with letters of contract award, EFCC investigations revealed that the company was never allowed to mobilise engineers or deploy equipment to any project site in the North-East, with Mohammed reportedly citing insecurity as the reason for repeated delays.

The commission further alleged that all contract documents presented to the company were forged. It was also alleged that the syndicate opened a Guaranty Trust Bank account bearing the acronym “NEDC”, through which parts of the funds were returned to Diamond Leeds under the guise of payments for equipment supplies.

The defendants pleaded not guilty to all the charges.

Following their plea, prosecution counsel, Olarenwaju Adeola, applied for the defendants to be remanded in custody pending trial. Defence counsel, Chukwuka Obidike, however informed the court that bail applications had already been filed.

The prosecution opposed the immediate hearing of the bail applications, stating that it was only served the previous evening and needed time to respond.

Justice Ogbonnaya subsequently ordered that the defendants be remanded at the Suleja Correctional Centre and adjourned the case to March 25 for hearing of the bail applications.

Speaking after the proceedings, lead counsel to the nominal complainant, Beth Igwilo (SAN), disclosed that seven witnesses would be called during the trial.

Diamond Leeds also expressed disappointment over the alleged betrayal, noting that Echem, who reportedly benefited from the company’s goodwill, was accused of conspiring with others to defraud it.

The EFCC added that further investigations uncovered additional alleged fraudulent activities linked to Mohammed, which reportedly led to his eventual removal from the NEDC.