Wednesday, September 2, 2026

Reps Probe Fake PFIPC, Uncover 58 Bank Accounts and Alleged ₦400m Fraud

Reps Probe Fake PFIPC, Uncover 58 Bank Accounts and Alleged ₦400m Fraud

The House of Representatives committee investigating the controversial Presidential Foreign Intervention Promotion Council (PFIPC) has uncovered alleged forgery and alteration of presidential and legislative documents used to portray the organisation as a legitimate government agency.

The committee also disclosed that about 58 bank accounts have been linked to Prince Adeniyi Adeyemi, who was presented as the Director-General of the purported council. It is also investigating an alleged ₦400 million transaction involving Adeyemi.

However, the committee exonerated President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, saying it found no evidence that he authorised, established or participated in the activities of the purported organisation.

According to the lawmakers, documents presented to the committee showed that a letter allegedly appointing Adeyemi as Director-General and bearing Gbajabiamila’s signature was fabricated. The State House reportedly confirmed that no such appointment was made or approved.

The committee also uncovered a purported Executive Order No. 5 dated February 24, 2026, which was allegedly used to give the organisation legal backing. Investigators said the document was neither issued nor approved through the lawful processes of the Presidency.

Similarly, a document presented as an Act of the National Assembly establishing the organisation was found not to have been passed by both chambers, assented to by the President or gazetted as an Act of the Federation.

The lawmakers further discovered a purported State House letter requesting a government administrative code for the PFIPC. They said the letter contained fictitious names, offices and official designations and was allegedly used to mislead government financial authorities.

The committee is also investigating how the purported agency gained recognition within the Federal Budget Framework and how it obtained office space within the Federal Secretariat Complex despite allegedly having no lawful allocation.

About 39 people were reportedly presented as employees of the organisation. Their recruitment, appointment letters, salaries and allowances are now under investigation, including allegations that some applicants may have been asked to pay money for employment.

The committee said preliminary financial information linked Adeyemi to approximately 58 bank accounts, more than 30 of which appeared to be operated in the names of different agencies, companies, foundations or related entities. It stressed that the discovery did not mean all the accounts or entities were unlawful.

Investigators are also tracing an alleged ₦400 million payment made by a company to Adeyemi in four instalments. The company reportedly claimed that it paid the money after being promised a contract relating to the renovation or furnishing of a residence allegedly allocated to Adeyemi in his purported official capacity.

The committee warned that the alleged fabrication of presidential and legislative documents posed a serious threat to Nigeria’s constitutional institutions.

It recommended that security and anti-corruption agencies complete their investigations and prosecute anyone against whom sufficient evidence is established.

The lawmakers emphasised that their findings remain preliminary and do not constitute a final determination of criminal guilt. A final report will be submitted to the House after the outstanding aspects of the investigation are completed.

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