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.