Secrets Reporters

A review of federal treasury payment records has revealed that the Nigeria Police Force, through its Police Formations and Commands, paid ₦1,091,977,972.31 to Treasurebond Global and Logistics Ltd for the construction of a modern Police Area Command in Ekiti State.

The payment, contained in Treasury document No. 1001385098-1 dated May 9, 2026, was described as “100 percent payment for the construction of modern Police Area Command in Ekiti State.” The record, obtained by SecretsReporters has prompted questions among procurement observers because construction contracts are typically paid in stages as work progresses, rather than through full upfront disbursement.

An examination of the company’s corporate records, government payment history and Nigeria’s procurement framework also raises broader questions about contractor selection, transparency and compliance with established procurement procedures.

According to records from the Corporate Affairs Commission (CAC), Treasurebond Global and Logistics Ltd was incorporated on November 30, 2022, as a private company limited by shares with registration number RC-2005922. The company lists Dike Chibuihe Isaac (born 1974) and Abdullahi Sani Hassan (born 1978) as directors, with each holding 50 percent ownership and significant control. Its registered office is located in Kado Estate, Abuja.

However, despite being incorporated less than four years ago, Treasurebond has emerged as a favorite of the police in contracts award.

The Treasury payment description for the Ekiti project states: “Being 100 percent payment for the construction of modern Police Area Command in Ekiti State.” Ekiti State Police Command currently operates three Area Commands and, like many police formations across Nigeria, has faced infrastructure challenges over the years.

The Treasury record reviewed by SecretsReporters does not indicate whether the payment was backed by any approved waiver, performance guarantee or other special authorization. Likewise, publicly available records reviewed for this report do not disclose details of the bidding process, the number of competing bidders, evaluation scores or whether a Certificate of No Objection was issued by the Bureau of Public Procurement for the project.
Beyond the Ekiti Area Command project, Treasury records show Treasurebond has received several other payments from Police Formations and Commands as well as other Ministries, Departments and Agencies (MDAs).

On the same day the Ekiti payment was processed, the company also received ₦279,393,684.90 for the supply of 53,484 rounds of 7.62×51mm linked-chain ammunition to the Force Headquarters Annex in Lagos.

Earlier, on March 27, 2026, the firm received ₦227,116,279.07 for supplying 2,000 pairs of tactical boots, while another payment of ₦49,633,685.58 was made on March 30, 2026, representing a 30 percent mobilisation fee for the installation of 156 solar-powered streetlights across Kaduna North Senatorial District.
Treasury records further show that in 2025, the company received multiple payments of ₦86,411,123.86 from Police Formations and Commands for the supply of raincoats in separate procurement batches.

In 2024, it also secured contracts exceeding ₦80 million for solar streetlight projects in Kaduna North, alongside payments for food supplies, office equipment, printers, laptops, audit training programmes and renovation works. Records also show that in 2023 the company received more than ₦157 million under a contract described as a 100 percent advance payment guarantee for the renovation and furnishing of the Police State Headquarters in Dutse, Jigawa State.

The records indicate that within a relatively short period, Treasurebond expanded from a newly incorporated company into a contractor handling projects across multiple sectors, including construction, security supplies, renewable energy and logistics. While companies are not prohibited from operating across diverse sectors, procurement specialists say such rapid growth often attracts additional scrutiny regarding technical capacity, financial capability, previous project experience and compliance with prequalification requirements under the Public Procurement Act.

Under Nigeria’s Public Procurement Act (PPA) 2007, open competitive bidding is the default procurement method for public contracts. The law generally requires procurement opportunities to be advertised in national newspapers, the Federal Tender Journal and appropriate online platforms within prescribed timelines to encourage competition and transparency. The Act also provides that advance or mobilization payments for contracts should ordinarily be supported by an unconditional bank guarantee or insurance bond, while subsequent payments are expected to be tied to certified stages of project execution.

Although policy discussions and proposed amendments in recent years have considered increasing mobilization limits from 15 percent to 30 percent for certain projects, milestone-based payment remains the standard practice for construction contracts. Procurement experts note that full upfront payment for construction works is generally unusual because phased payments help protect public funds against project abandonment, delays or substandard execution.

Secrets Reporters

Sophia Horsfall, the general manager of external relations and sustainable development at Nigeria’s Liquefied Natural Gas (NLNG), has emerged as a director and significant shareholder of a privately registered energy services company, Trackion Energy Limited, raising questions over corporate governance, conflict of interest, and compliance with the laws of the federal republic of Nigeria.

Paragraph 2(b), Part I, Fifth Schedule to the Constitution of the Federal Republic of Nigeria, 1999 (as amended) for the Code of Conduct for Public Officers provides that “A public officer shall not, except where he is not employed on a full-time basis, engage or participate in the management or running of any private business, profession, or trade…”

Paragraph 6 provides that “A public officer shall not put himself in a position where his personal interest conflicts with his duties and responsibilities.”

Rule 030424 (Outside Employment) generally provides the following: A full-time officer shall not engage in any other business or employment except farming without prior approval of the government.

However, a review of Corporate Affairs Commission (CAC) records by SecretsReporters shows that Trackion Energy Limited was incorporated on 11 August 2023 as a private company limited by shares with a stated principal business of energy services and supply, which is the same line of business as NLNG. 

The records further indicate that Sophia is listed as one of the company’s directors, owns 300,000 ordinary shares representing 30 percent of the issued share capital, and is recognized as a Person with Significant Control (PSC) within the company.

The remaining 70 per cent shareholding is held by another director, according to the same records.

The discovery has prompted questions among governance observers about whether employees occupying senior management positions in strategic organizations should simultaneously serve as directors and substantial shareholders in private companies operating within related sectors.

SecretsReporters sent out inquiries to obtain the position of the company and the executive regarding the disclosed directorship and shareholding, but no response was received.

Secrets Reporters

An ongoing series of investigations into the life of a public office holder is unearthing a can of worms, such that will make for a Hollywood blockbuster film, depicting the behind the scenes of banks boardroom politics.

Copies of judicial documents obtained from the High Court of the Federal Capital Territory have blown open a well-kept, explosive scandal involving one of Nigeria’s most powerful financial regulators. Emem Nnana Usoro, the current Deputy Governor for Operations at the Central Bank of Nigeria (CBN), was deeply entangled in a damning matrimonial legal battle, where she was formally cited as a co-respondent for committing adultery with a married man.

The multi-million Naira legal action, filed under Suit No: FCT/HC/PET/251/2019, outlines a jaw-dropping narrative of infidelity, power, and deceit that has surfaced from her days as a high-ranking executive at the United Bank for Africa (UBA) Plc.

The explosive cross-petition was instituted by Mrs. Grace Wesley, the lawful wife of Mr. Edirin Jerry Wesley who’s now late, even though the court case was filed when he was alive. 

According to the court papers filed by The Summit Chambers from Minna, Niger State, Mrs. Wesley specifically cross petitioned the court for a decree of Dissolution of Marriage with her husband on the unyielding grounds that the union had broken down irretrievably due to open desertion and continuous adultery with Emem Etuk Usoro. The husband Jerry had gone to court to file for divorce which SecretsReporters will report on his reasons subsequently in the course of its expose.

The court filing lays bare a disturbing account of domestic displacement, detailing how the apex bank chief aggressively penetrated the sanctuary of a subsisting marriage that had been consecrated across international borders. According to the cross-petition, Mrs. Wesley accused Usoro of engaging in an adulterous relationship with her husband while their statutory marriage remained legally valid. She alleged that despite being fully aware that Mr. Wesley was lawfully married, Usoro entered into an intimate relationship with him, resulting in children during the subsistence of the marriage. The petitioner maintained that the alleged affair contributed significantly to the irretrievable collapse of her marriage.

Court filings further disclosed that Mrs. Wesley sought damages against Usoro for the alleged adultery and urged the court to restrain her from presenting herself as the lawful wife of Mr. Wesley. The petitioner insisted that her marriage had not been dissolved and remained legally binding throughout the period in question, making any contrary representation misleading and unlawful.

A ThisDay newspaper publication of March 8th 2021 obtained by SecretsReporters also show that Mrs. Wesley filed a strongly-worded public notice following the death of her husband, warning the public against recognising Usoro as his widow. In the notice, she declared that she “is and remains the legal wife of late Mr. Edirin Jerry Wesley,” stating that they were traditionally married in Nigeria on July 31, 2004, before formalising the union in Bergamo, Italy, on May 14, 2005.

Mrs. Wesley maintained in the publication that the marriage endured until the death of Mr. Wesley and asserted that she remained his lawful widow “unless legally proven to the contrary.” She specifically accused Usoro of parading herself as the deceased’s lawful wife and cautioned her to desist from making such representations. The notice equally advised members of the public against dealing with Usoro as the widow of the deceased unless a competent court ruled otherwise.

The cross-petition equally alleged that the marriage between Mr. and Mrs. Wesley had “broken down irretrievably” due to desertion and adultery involving the second respondent. The filing asked the court to take judicial notice of the alleged conduct and grant appropriate reliefs, including compensation for the claimed matrimonial wrongs. The available court documents, however, do not indicate the final determination of the allegations, and the claims remained matters presented before the court.

Since the events that gave rise to the litigation, Emem Usoro’s professional career has continued to flourish. A seasoned banker with more than two decades of experience in commercial banking and financial services, she joined the United Bank for Africa (UBA) in 2011, rising to the position of Executive Director for Northern Operations.

In 2023, President Bola Ahmed Tinubu appointed her as Deputy Governor for Operations at the Central Bank of Nigeria, an appointment subsequently confirmed by the Senate on September 26, 2023. She is also a Fellow of the Chartered Institute of Bankers of Nigeria and has been recognised for initiatives promoting financial inclusion and literacy.

Recently, this online media revealed how Emem bought a N1.4 Billion California Luxury Condo and another N3.6bn Los Angeles Property which she concealed from her asset declaration form. 

As of the time of filing this report, Emem was yet to respond to a message sent by this media for her to respond to the claims made in the court document.

To be continued