Bond Bank Limited

In 2018, Bond Bank Limited became subject to an Economic and Financial Crimes Commission (EFCC) investigation related to alleged asset concealment connected to what became known as the Balogun case. The bank's Managing Director was called to testify before EFCC investigators about the institution's role in handling assets that were allegedly hidden from authorities. This investigation was part of broader anti-corruption efforts targeting financial institutions suspected of facilitating money laundering or asset concealment schemes.

The investigation occurred during a period when Nigeria's anti-corruption agencies were intensifying scrutiny of the banking sector's compliance with financial regulations. Following the 2008 global financial crisis and subsequent banking sector reforms, Nigerian authorities had strengthened oversight mechanisms to prevent banks from being used as vehicles for illicit financial flows. The EFCC, established in 2003, had been granted expanded powers to investigate financial crimes and was actively pursuing cases involving asset concealment by both individuals and institutions.